Key Points
- Japanese firm Metaplanet plans to acquire 21000 BTC by 2026, raising nearly $760M for a 10K BTC acquisition program for 2025.
- Metaplanet’s market cap has surged by 7000% since adopting a BTC corporate strategy in 2024.
Japan’s Metaplanet, often referred to as the ‘MicroStrategy’ of the country, has announced plans to acquire 21000 Bitcoin (BTC) by 2026.
The firm has raised nearly $760 million to partly fund its ambitious 10K BTC acquisition program set for 2025.
Metaplanet’s Strategy
Taking a leaf out of MicroStrategy’s playbook, Metaplanet is using debt and equity issuance to purchase BTC and increase shareholder value.
The firm has launched a program mirroring MicroStrategy’s 21/21 initiative, aiming to issue 21 million shares to raise capital for buying 10K BTC by the end of 2025.
The firm has stated that it aims to raise approximately ¥116 Billion to purchase additional BTC, marking the largest capital raise in Asian equity markets history for BTC acquisition.
Metaplanet’s Growth
Since implementing a BTC corporate strategy in April 2024, Metaplanet’s market cap has seen a staggering 7000% growth.
This growth has validated the firm’s strategy, with Dylan LeClair, the firm’s head of BTC strategy, confirming that they are net long on BTC.
Metaplanet’s stock has also risen by 245% since November, jumping from around $10 to over $30 before settling at its current $28 value.
Meanwhile, BTC posted a 57% gain over the same period, highlighting Metaplanet’s outperformance.
The firm currently owns 1.76K BTC, valued at over $180M at current prices.
