Japan’s Metaplanet plans to raise $745 million via stock warrants to buy more bitcoin

Japanese investment firm Metaplanet announced Tuesday that it plans to raise 116 billion Japanese yen, or about $745.5 million, to purchase more bitcoin.

The firm said it plans to issue 21 million shares of 0% discount warrants. These financial instruments give the holder the right, but not the obligation, to buy the underlying stock (in this case, Metaplanet’s shares) at a predetermined price before the warrant expires.

Metaplanet claimed that if executed, this transaction would be the “largest capital raise in Asian equity markets history to buy BTC.”

“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 said in its latest disclosure .

The company stated that such circumstances have led it to raise funds and purchase bitcoin “as quickly as possible.”

Metaplanet’s last bitcoin purchase came in December when it bought 619.7 BTC for 9.5 billion yen ($60.6 million), which it raised via bond issuance the previous week. The Tokyo Stock Exchange-listed company is currently the 12th largest publicly traded holder of bitcoin, owning around 1,761 BTC.

Earlier this month, Metaplanet said it plans to expand bitcoin holdings to 10,000 BTC by the end of this year and 21,000 BTC by the end of 2026.

“Since adopting the Bitcoin Standard on April 8, 2024, Metaplanet has experienced exponential growth,” Metaplanet CEO Simon Gerovich said.. “The market has recognized Metaplanet as Tokyo’s preeminent Bitcoin company, and we are seizing this momentum to solidify our position as a global leader.”

Metaplanet shares closed up 3.1% to 4,160 yen on Tuesday, growing 16.36% year-to-date, according to Google Finance data. Bitcoin rose 3.49% in the past 24 hours to trade at $102,794, The Block’s bitcoin price page shows.