MetaPlanet Now Targets 1% of Global Bitcoin Supply by 2027
Tokyo-listed investment firm MetaPlanet has outlined an unprecedented ¥770.9 billion ($5.4 billion) equity-financed plan to buy 210,000 bitcoin by the end of 2027, equivalent to about 1% of the cryptocurrency’s fixed supply. If successful, the company would eclipse MicroStrategy and Tesla to become the world’s largest corporate holder of the digital asset.
In documents released on 6 June, MetaPlanet said it would issue 555 million moving-strike share warrants to Cayman-based EVO Fund, the largest such deal ever completed in Japan. Around 96 per cent of the proceeds will be deployed directly into bitcoin, with the remainder reserved for bond redemptions and options strategies designed to generate additional treasury income. The warrants carry a minimum exercise price to limit dilution, and MetaPlanet retains the right to pause conversions during periods of share-price volatility.
The company already holds 8,888 bitcoin, purchased at an average cost of ¥13.7 million ($94,500) each, after adding 1,088 coins earlier this week. Management says the latest purchase lifted the year-to-date yield on its bitcoin programme to 225% and helped push the share price up by more than 275% since January. Progress has been so swift that MetaPlanet abandoned its previous “21 Million Plan”, a target of 21,000 bitcoin by 2026, in favour of the far more ambitious “555 Million Plan” announced on Thursday.
Why 1% matters
Bitcoin’s supply is hard-capped at 21 million coins, of which roughly 19.7 million have already been mined. Capturing 1% of the eventual total would cement MetaPlanet’s status as a systemic holder and, in the view of President & CEOSimon Gerovich, offer a hedge against Japan’s long-running negative-interest-rate environment and the yen’s weakness. Analysts note that a single corporate entity wielding such influence over the market could also heighten price swings, particularly if MetaPlanet ever needed to liquidate part of its stake.
Metaplanet has launched Asia’s largest-ever equity raise dedicated to Bitcoin: 🚀 ¥770.9 billion (~$5.4B) capital raise 📈 555 million shares via moving strike warrants 🥇 First in Japan: issued at a premium to market — enabled by Metaplanet’s high volatility and deep liquidity… pic.twitter.com/UlXHneyDzo
Crypto specialists welcomed the move as a vote of confidence in bitcoin’s long-term scarcity narrative, though mainstream investors were more cautious. Nasdaq’s analysis described MetaPlanet as “Asia’s MicroStrategy”, observing that the firm has pivoted from hotel development to a treasury strategy modelled on the US software group’s 2020 blueprint. Yet Nasdaq also highlighted the operational risk: MetaPlanet’s performance is now tightly coupled to the notoriously volatile bitcoin price, leaving minority shareholders exposed if the rally stalls.
Regulatory and accounting headwinds
MetaPlanet plans to account for its holdings at fair value under Japan’s recently updated crypto accounting rules, which allow unrealised gains to flow through the profit and loss statement. While that approach could inflate headline earnings during bull markets, it may also amplify losses in downturns. Regulators at Japan’s Financial Services Agency have so far taken a neutral stance but are studying whether large corporate positions pose systemic risks. Market watchers say any tightening of capital rules could force MetaPlanet to bolster its equity buffer or slow purchases.
Conclusion
MetaPlanet’s bid to corner one per cent of bitcoin represents a bold escalation of corporate balance-sheet experimentation with digital assets. Supporters argue it demonstrates conviction in bitcoin’s role as a store of value and may encourage other Asian firms to follow suit. Critics counter that concentration risk, regulatory uncertainty and crypto’s extreme volatility could yet derail the plan. For now, the company enjoys buoyant shares, deep liquidity and a clear timetable. Whether it can maintain that momentum through 2027 will depend on the capital markets’ appetite for more stock, the resilience of Bitcoin’s price, and regulators’ willingness to let a single company control such a sizable slice of the network.
