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ZyCrypto 2025-01-28 18:47:47

Japan’s Metaplanet Kicks Off ‘Asia’s Largest-Ever’ Raise To Purchase More Bitcoin

A little-known Tokyo-listed investment firm that made headlines for adopting MicroStrategy’s Bitcoin (BTC) playbook has announced its biggest fundraising initiative in the Asian equity market’s history to fund more Bitcoin purchases. Metaplanet plans to acquire 21,000 BTC by 2026 as part of its strategy to lead Japan’s Bitcoin renaissance. Metaplanet’s Bold Strategy To Buy 21,000 BTC By 2026 On Jan. 28, Asia’s MicroStrategy announced that it had issued 21 million shares through 0% discount moving strike warrants, raising roughly 116 billion yen (equivalent to $745 million) in what is being described as Asia’s largest-ever equity capital raise for Bitcoin.” The move allows holders to purchase shares at adjustable exercise prices based on market value. The issuance is part of the company’s “Bitcoin-first, Bitcoin-only” strategy, which aligns with its intent to continue boosting its BTC stockpile amid the Japanese yen’s devaluation and Bitcoin’s run to a lifetime high. “In January 2025, Bitcoin reached a new all-time high… the Japanese yen continues to lose value, with the exchange rate against the US dollar nearing 160 yen,” Metaplanet wrote in its Tuesday disclosure. As per the plan, Metaplanet hopes to acquire 10,000 BTC by the end of 2025, which would cost approximately $1 billion at current market values. By the end of 2026, it targets 21,000 BTC, worth about $2.1B based on current prices. 21,000 Bitcoin is notable as it mirrors BTC’s capped supply of 21 million coins. Leading Japan’s Bitcoin Renaissance Metaplanet’s representative president and director, Simon Gerovich, noted in a statement that the market views the firm as “Tokyo’s preeminent Bitcoin company.” Gerovich said the Tokyo Stock Exchange-listed company is seizing the momentum to fortify its standing as one of the top global corporate holders of the maiden crypto, like Michael Saylor’s MicroStrategy . “Our vision is to lead the Bitcoin renaissance in Japan and emerge as one of the largest corporate Bitcoin holders globally. This plan is our commitment to that future,” he continued. Metaplanet’s last Bitcoin purchase was in December when it purchased 619.7 BTC for 9.5 billion yen ($60.6 million), which it raised via bond issuance the prior week. The company is currently the 15th largest publicly traded holder of Bitcoin, holding roughly 1,761 BTC.

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