Metaplanet Soars on $5.4B Bitcoin Fundraising Plan

​Metaplanet Inc. is diving deeper into the world of crypto—and investors are loving it. The Japanese company announced a plan to raise roughly $5.4 billion to expand its already massive Bitcoin stockpile, sending its shares surging as much as 22% on Monday .

The firm, originally a hotel operator, pivoted into crypto in early 2024. It currently holds 8,888 Bitcoin worth nearly $1 billion, but now aims to accumulate a staggering 210,000 Bitcoin by the end of 2027. If achieved, that would represent about 1% of all Bitcoin in circulation .

Metaplanet is following a playbook popularized by Michael Saylor’s MicroStrategy, using stock sales and convertible notes to fund its Bitcoin purchases. Its latest stock acquisition rights program is reportedly the largest in Japanese capital markets history .

The company joins a wave of public firms racing to build Bitcoin treasuries. Just this year:
-Twenty One Capital, a venture backed by Tether, SoftBank, and Cantor Fitzgerald, launched with nearly $4 billion in Bitcoin.
-Trump Media & Technology Group, the parent of Truth Social, raised $2.32 billion to amass its own Bitcoin holdings .

"Metaplanet and the rest of these companies are providing a new and material source of buying demand for crypto coins and tokens," said Richard Galvin of hedge fund DACM.

The announcement also marks a big revision from Metaplanet’s earlier target: it had previously planned to acquire 21,000 Bitcoin by 2026, but has now more than quadrupled its ambition .

Bottom line: Metaplanet is going all in on Bitcoin—and so far, the market is rewarding the bold move. With more public firms building crypto treasuries, institutional demand for Bitcoin may only be getting started.