Metaplanet's $5.4 Billion Bitcoin Bet: Japan's Leap into Crypto Treasury

Tokyo-based investment firm Metaplanet announced plans to raise approximately USD $5.4 billion to acquire 210,000 bitcoins by the end of 2027. This ambitious target represents roughly 1% of Bitcoin's total supply, positioning Metaplanet as the second-largest corporate holder of the cryptocurrency, trailing only U.S.-based Strategy.

Originally a hotel developer, Metaplanet underwent a strategic transformation in 2024 under CEO Simon Gerovich, shifting its focus entirely to Bitcoin accumulation. Metaplanet has embraced a Bitcoin-centric treasury model, aiming to leverage the cryptocurrency as a primary reserve asset.

To fund 210,000 bitcoins, Metaplanet will issue up to 555 million new shares through moving strike warrants, marking the largest stock acquisition rights issuance in Japan's capital markets history. The capital raised will be exclusively dedicated to Bitcoin purchases, aligning with the company's revised targets of holding 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.

Currently, Metaplanet holds 8,888 BTC, following its latest acquisition of 1,088 BTC on June 2.

Metaplanet’s aggressive stance is also driven by its belief that institutional demand for Bitcoin will accelerate over the next five years. Company filings suggest confidence that regulatory clarity, geopolitical instability, and inflationary pressures will drive a global shift toward decentralized reserve assets.

Analysts note that Metaplanet’s Bitcoin strategy is not merely speculative but modeled after successful precedents, particularly Strategy’s playbook. By converting equity into hard assets, Metaplanet seeks to hedge against fiat devaluation while positioning itself as a leader in Japan’s emerging crypto-financial infrastructure.

The announcement has had a profound impact on Metaplanet's stock, which surged by 15% following the capital-raising news. Over the past two years, the company's aggressive Bitcoin acquisition strategy has driven its stock price up by over 8,850%.

Metaplanet's move reflects a broader trend among companies adopting Bitcoin as a treasury asset. Currently, 80 companies have adopted the “Bitcoin standard,” collectively holding 3.4% of the total Bitcoin supply. Notable moves include GameStop’s $500 million Bitcoin purchase and Trump Media’s plan to raise $2.5 billion for Bitcoin.

Metaplanet's Bitcoin-centric strategy extends beyond financial holdings. The company operates a hotel in Tokyo, which is being rebranded as The Bitcoin Hotel, set to open in early 2026.

In a move that underscores the intertwining of cryptocurrency and politics, Eric Trump joined Metaplanet's strategic advisory board in March, signaling stronger ties between crypto initiatives and politically influential figures.

Metaplanet's bold strategy positions it at the forefront of corporate Bitcoin adoption, reflecting a growing trend of companies leveraging cryptocurrency as a strategic asset. As the company embarks on its ambitious acquisition plan, the financial world will be watching closely to see how this unprecedented move unfolds.