Metaplanet’s Ambitious Bitcoin Acquisition Strategy
Tokyo-listed Metaplanet announced on Tuesday its bold plan to accumulate a total of 10,000 bitcoin (BTC) by the end of 2025 and reach 21,000 bitcoin by the close of 2026. This initiative is part of a comprehensive corporate treasury strategy aimed at positioning Metaplanet as one of the most significant corporate holders of bitcoin globally. As of Wednesday, the company boasts assets exceeding $180 million, according to recent data.
The initiative, referred to as the “21 Million Plan,” likely pays homage to bitcoin’s capped supply of 21 million coins. This plan includes the issuance of 21 million shares through moving strike warrants, with the objective of raising approximately 116.65 billion yen (about $740 million at current exchange rates). This fundraising effort marks one of the largest equity capital raises dedicated to bitcoin in Asia.
One of the distinctive features of this approach is its focus on protecting shareholder value. By setting the exercise price at 100% of the previous day’s closing price, Metaplanet aims to mitigate the dilution that often accompanies traditional warrant structures.
Metaplanet is targeting an anticipated 35% BTC Yield each quarter. Notably, the company achieved an impressive 309.82% BTC Yield for Q4 2024, following a solid 41.7% BTC Yield in Q3 2024. These results affirm that its acquisition strategy is proceeding in the right direction, as highlighted in their recent release.
According to Dylan LeClair, the Director of Bitcoin Strategy at Metaplanet, “BTC Yield is the foundation of our strategy and the ultimate measure of our success. We don’t measure performance in fiat currencies like the yen or the dollar—our benchmark is Bitcoin itself.” He further emphasized, “Our mission is to maximize bitcoin per share for our shareholders. Bitcoin is not just an asset; it’s the exit strategy. We’re here to accumulate and lead, not sell.”
In response to these developments, shares of Metaplanet saw a notable increase, closing 5% higher on Wednesday, reflecting growing investor confidence in the company’s strategy.
