Bitcoin price broke through $74,000 on Monday morning, attracting widespread attention due to corporate demand and supply trends in the market. During this recovery, Japanese investment firm Metaplanet announced it has raised $255 million to expand its Bitcoin holdings.
The company secured this funding through private placements with global institutional investors. The new capital will support Metaplanet's long-term strategy of accumulating Bitcoin, aiming to reach a target of 210,000 BTC.
Metaplanet raised approximately $255 million through a third-party private placement, with shares issued at a 2% premium to market price.
Reports indicate that this round of financing also includes fixed warrants priced at a 10% premium. If exercised, these warrants could generate up to $276 million in additional funds.
CEO Simon Gerovich stated that this structure allows the company to raise funds while managing stock volatility. He remarked, “Metaplanet raised approximately $255 million from global institutional investors through newly issued shares, priced at a 2% premium to market price.”
He added that the exercise of the warrants could bring in “up to $276 million in additional funds.” This would provide more resources for the company's Bitcoin acquisition plans. Overall, the arrangement could provide the company with up to $531 million in new funds for Bitcoin purchases.
Metaplanet also issued variable exercise warrants, up to 100 million shares. These warrants are linked to the company's adjusted net asset value and can only be exercised if the stock price reaches at least 1.01 times its adjusted net asset value. This condition ensures that the new shares increase the per-share value.
According to the company, if conditions are met, these warrants could bring in approximately ¥37.1 billion in additional funds, which could be used for Bitcoin acquisitions. Metaplanet noted that this mechanism ensures that each issuance supports the growth of Bitcoin per share. This approach directly links fundraising to treasury expansion.
This strategy reflects a growing trend of publicly listed companies utilizing equity markets to build Bitcoin reserves. As of March 16, Metaplanet holds 35,102 BTC, valued between $2.4 billion and $2.59 billion at market prices.
This holding represents approximately 0.167% of the total Bitcoin supply of 21 million, making it the fourth-largest public company Bitcoin holder. The strategy implemented by the company is the largest among corporate holders, having acquired approximately 738,731 BTC through over 100 purchases since 2020.
According to Bitcoin treasury data, Metaplanet's average acquisition cost is $107,716 per BTC. Despite currently being down 31%, the company's roadmap aims to reach 100,000 BTC by 2026 and 210,000 BTC by 2027, which would account for about 1% of the total Bitcoin supply.
Analysts have been analyzing the potential path for Bitcoin prices to reach $80,000.