Japanese investment firm Metaplanet has announced a massive $5.4 billion plan to increase its bitcoin holdings to 210,000 BTC by the end of 2027 — that’s about 1% of the total bitcoin supply.
The Tokyo-listed company is accelerating its already aggressive bitcoin plan, with CEO Simon Gerovich calling the initiative “Asia’s largest-ever equity raise to buy Bitcoin — again!”
The company’s new capital raise, called the “555 Million Plan”, involves issuing 555 million shares through moving strike warrants. That’s basically a type of option where people can buy shares later, and the price they pay depends on the stock’s price at that time.
So with moving strike warrants, the price at which people can buy the stock goes up or down depending on how the company’s stock is doing. It gives investors more flexibility — and it can make the warrants more attractive — because they don’t get stuck with a bad deal if the stock price drops.
This way the company can raise capital gradually over the next 2 years without impacting the stock market and existing shareholders.
The funds raised will be used to buy bitcoin, with some to redeem bonds and other income-generating strategies like selling put options.
This is a big step up from Metaplanet’s previous targets. Initially aiming to reach 10,000 BTC by the end of 2025, the company now plans to reach:
- 30,000 BTC by end of 2025
- 100,000 BTC by end of 2026
- 210,000 BTC by end of 2027
The Japanese investment firm hopes to be in the “Bitcoin 1% club” which means holding at least 1% of the total 21 million bitcoin supply.
Metaplanet is already making good progress. As of June 2025, the company holds 8,888 BTC, acquired at a cost of about ¥122.2 billion (around $849 million) and has already reached 89% of its original 10,000 BTC target for 2025.
This comes after the success of the company’s previous “210 Million Plan” which raised ¥93.3 billion ($650 million) in 60 trading days by issuing 210 million shares.
During that time, the company’s bitcoin holdings grew from 1,762 BTC to 7,800 BTC and the BTC Yield (a key performance metric showing growth in bitcoin per share) increased by 189%.
Year to date the BTC Yield is 225.4%.
The stock has reflected this momentum, up 275% since early 2025 and 1,619% over the past year.
Metaplanet is now one of the most actively traded stocks in Japan and has become a top-ten corporate bitcoin holder globally, recently surpassing Block Inc., the company founded by Jack Dorsey.
Metaplanet sees this as part of a bigger shift in capital markets.
By being a “bitcoin treasury vehicle” listed on the Tokyo Stock Exchange, it aims to offer investors exposure to bitcoin through regulated equity markets. This is especially useful in Japan where retail investors are often restricted from accessing bitcoin directly.
“Bitcoin is repricing the global cost of capital,” the company said in a statement. “Through our 555 Million Plan, Metaplanet is doubling down on a high-conviction, equity-driven capital markets strategy to accelerate our Bitcoin accumulation trajectory.”
