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Tokyo-listed firm Metaplanet has raised 74.9 billion JPY, which is around $515 million, to buy more Bitcoin after it recently announced plans to acquire 1% of BTC’s 21 million supply.
In a filing today, the company’s primary backer, EVO Fund, exercised 540,000 stock-acquisition rights, and converted them into 54 million new shares. This issuance represents 29% of the total rights issued in Metaplanet’s 20th warrant series, with about 1.31 million rights equal to 131 million shares still remaining.
Metaplanet Seeks To Raise $5.4B To Grow Its Bitcoin Stockpile
The large sale comes shortly after Metaplanet revealed its intentions to issue 555 million shares, which is around 92% of the total outstanding shares, to raise $5.4 billion in new capital. The proceeds from this raise will then be used to fund more Bitcoin purchases, the company said.
That move is being dubbed the “555 Million Plan,” and is part of Metaplanet’s goal to amass 30,000 BTC by the end of 2025. The company also has the longer-term goal of growing its Bitcoin holdings to 100,000 BTC by 2026 and 210,000 by 2027, with the latter representing 1% of BTC’s total supply.
Metaplanet has launched Asia’s largest-ever equity raise dedicated to Bitcoin:
🚀 ¥770.9 billion (~$5.4B) capital raise
📈 555 million shares via moving strike warrants
🥇 First in Japan: issued at a premium to market — enabled by Metaplanet’s high volatility and deep liquidity… pic.twitter.com/UlXHneyDzo— Simon Gerovich (@gerovich) June 6, 2025
Metaplanet Closes On Tesla And Cleanspark In Bitcoin Treasury Rankings
Data from BitcoinTreasuries.net shows Metaplanet currently holds 11,111 BTC. This is after the company’s most recent purchase of 1,111 BTC on June 25, which pushed the firm past Coinbase in terms of the number of Bitcoin held.
With the new raise, Metaplanet could soon overtake Elon Musk’s Tesla in the Bitcoin treasury rankings, with the electric vehicle manufacturer’s holdings standing at 11,509 coins. The Bitcoin buy earlier this week has also put Metaplanet within reach of CleanSpark, with its Bitcoin reserves standing at 12,502 BTC.
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