Metaplanet has kicked off its bold Bitcoin acquisition strategy. Today, the very first day of its “555 Million Plan”, the company announced that it will be raising around $517 million in equity capital. The Japanese firm issued 54 million new shares, which is almost 10% of the total 555 million, at a price of ¥1,388 (roughly $9.59) per share.
This capital rise marks one of the largest crypto-focused equity injections in history and will likely catapult Metaplanet toward the top tier of corporate Bitcoin holders worldwide.
At the same time, Metaplanet extinguished $281 million worth of 0% ordinary bonds, which are non-interest-bearing debt instruments previously issued to raise capital for Bitcoin purchases. After investors took notice that Metaplanet was extinguishing its debt, the company’s stock (3350.T) surged by nearly 4% on the day.
Simultaneously, Metaplanet extinguished $281 million worth of 0% ordinary bonds, significantly improving its balance sheet and boosting its Bitcoin-to-debt ratio. According to company disclosures, 96% of the funds raised will be allocated directly to Bitcoin purchases, with the remainder supporting bond redemptions and yield-generating strategies.
Metaplanet Now Close to Toppling Tesla in BTC Holdings
The “555 Million Plan” aims to raise up to $5.4 billion and acquire 210,000 BTC by the end of 2027—roughly 1% of Bitcoin’s total supply. The company’s U.S. subsidiary, Metaplanet Treasury Corp, will manage treasury operations and tap into American capital markets to support this goal.
With this aggressive strategy, Metaplanet aims to emulate the results that leading corporate BTC holder MicroStrategy has seen in the past year. Currently, the Japanese firm owns 11,111 BTC, worth around $1.19 billion at the current rate.
Pretty soon, given its accumulation strategy, Metaplanet will surpass Elon Musk’s Tesla for the spot of the 5th largest Bitcoin holder among publicly traded companies. Tesla, which for the longest time held 11,509 BTC, has maintained a passive position since early 2023, neither adding to nor selling from its stash.
Meanwhile, more and more companies appear open to transitioning their business models to institutional crypto adoption.
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