TL;DR
- Metaplanet converted 540,000 warrants into 54 million new shares, raising ¥74.9 billion ($515 million) to kick off its “555 Million Plan” for bulk Bitcoin buying.
- The firm’s share count jumped from 600 million to 654 million, with room to issue another 131 million shares, funding targets of 30,000 BTC by 2025, 100,000 BTC by 2026, and 210,000 BTC by 2027.
- Despite a 5% share dip on dilution fears, Metaplanet will channel up to $5 billion into its U.S. subsidiary to scale and streamline its ambitious Bitcoin accumulation.
Tokyo-listed Metaplanet has launched its bold “555 Million Plan” by obtaining about $515 million in new equity to support a strong Bitcoin buying initiative. This landmark financing round sets the stage for one of Asia’s boldest corporate bets on digital assets.
Bold Capital Raise Kicks Off 555 Million Plan
On June 24, EVO Fund, the main supporter of Metaplanet, changed 540,000 stock-acquisition rights into 54 million new shares, quickly increasing the company’s funds by 74.9 billion JPY.
This portion accounts for almost 29% of the total warrants in Metaplanet’s 20th series, signifying the initial move towards issuing a total of 555 million shares. Proceeds will be channeled exclusively into buying Bitcoin, underpinning the firm’s strategy to amass a significant treasury.
EVO Fund Conversion and Share Dilution Details
Each converted warrant yielded 100 shares at an exercise price set around 1,388 yen apiece. Metaplanet’s outstanding share count jumped from 600 million to over 654 million in a single day, reflecting the intensity of institutional demand.
Approximately 1.31 million warrants, equivalent to a potential 131 million shares, remain on the table, giving Metaplanet ample room for future capital raises as market conditions evolve.
Ambitious Bitcoin Accumulation Targets
Under its “555 Million Plan,” Metaplanet aims to hold 30,000 BTC by December 2025, scale to 100,000 BTC in 2026, and ultimately join the elite 1% club, 210,000 coins, by 2027. Already, the firm holds 11,111 BTC following a recent acquisition of 1,111 coins. If fully executed, these targets would thrust Metaplanet alongside peers like Strategy in the race to corner a sizable slice of Bitcoin’s 21 million supply.
Market Reaction and Next Steps
Despite the fundraising triumph, Metaplanet’s shares dipped as much as 5% on the news, reflecting short-term dilution concerns. Looking ahead, the company plans to inject up to $5 billion into its U.S. subsidiary to support global expansion and streamline Bitcoin purchases stateside. As Metaplanet ramps up its treasury, all eyes will be on execution: whether it can buy Bitcoin at scale without unsettling the very market it’s racing to dominate.
