Japanese investment firm Metaplanet has unveiled an ambitious new target to amass 210,000 Bitcoin by the end of 2027.
The firm announced to raise $5.4 billion to accelerate its Bitcoin purchase by issuing 555 million shares of Moving-Strike Warrants, a first of its kind raise in Japan’s market of this size. The announcement marks a major acceleration from Metaplanet’s prior “21 Million Plan,” under which it aimed for 21,000 BTC by 2026.
To fund this aggressive acquisition drive, Metaplanet will issue 555 million new shares through moving strike warrants, an innovative financing mechanism designed to optimize capital raising with minimal dilution. If fully exercised, this issuance could generate an estimated ¥770 billion (approximately $5.4 billion) at an initial strike price of ¥1,388 per share.
After surpassing interim goals and climbing to 8,888 BTC, placing it tenth globally in corporate Bitcoin holdings, the company is now setting its sights far higher.
“Thrilled to announce Asia’s largest-ever equity raise to buy Bitcoin — again! This time: $5.4 billion to accelerate our Bitcoin strategy. Our new target: 210,000 BTC by 2027,” Metaplanet CEO Simon Gerovich said in a post on X.
The new plan is structured to gradually ramp up BTC holdings. This includes 30,000 BTC targeted by year-end 2025, 100,000 BTC by 2026, and 210,000 BTC by 2027.
It now aims to deliver an even more aggressive 600% BTC yield by the end of 2025. Metaplanet’s move draws parallels to MicroStrategy’s pioneering Bitcoin-backed securities approach, which aims to position itself as a bridge between traditional finance and Bitcoin-native capital formation.
The firm’s execution to date has been swift. Its previous capital raise of ¥102.8 billion fueled a 225.4% increase in BTC holdings year-to-date.