Metaplanet unveils bold Bitcoin strategy, aims to hold 21,000 BTC by 2026

Tokyo-based Metaplanet announced on Tuesday an ambitious plan to accumulate 10,000 bitcoin (BTC) by the end of 2025 and 21,000 BTC by the end of 2026.

Japan’s first and so far only publicly listed Bitcoin treasury company appears keen to cement itself as one of the largest corporate holders of Bitcoin globally. 

The initiative, named the “21 Million Plan” — a nod to Bitcoin’s maximum supply — will be funded through the issuance of 21 million shares via moving strike warrants, aiming to raise approximately 116.65 billion yen (US$740 million).

“Thrilled to announce Asia’s largest-ever public equity capital raise to buy Bitcoin,” Metaplanet CEO Simon Gerovich announced on X on Tuesday.

The company emphasized that the warrant exercise price will align with the previous day’s closing price, protecting shareholders from dilution. Metaplanet’s strategy focuses on maximizing Bitcoin yield, with the company achieving a 309.82% yield in Q4 2024, following a 41.7% yield in Q3 2024. It now targets a 35% Bitcoin yield per quarter, measuring success exclusively in Bitcoin rather than fiat currencies.

“Our mission is to maximize Bitcoin per share for our shareholders. Bitcoin is not just an asset; it’s the exit strategy,” said Dylan LeClair, Metaplanet’s Director of Bitcoin Strategy. 

“We’re here to accumulate and lead, not sell.”

The announcement spurred a 5% rise in Metaplanet’s share price on Wednesday, reflecting investor confidence in the plan.

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