Metaplanet Sets '21 Million Plan' to Accumulate 21,000 Bitcoin by End of 2026

Tokyo-listed Metaplanet said on Tuesday that it would accumulate 10,000 bitcoin (BTC) by the end of 2025 and 21,000 bitcoin by the end of 2026 as part of a corporate treasury plan.

Tokyo Stock Exchange-listed firm Metaplanet announced plans on Tuesday to amass 10,000 bitcoin (BTC) by 2025 and 21,000 bitcoin by 2026 as part of its corporate treasury strategy.

The move will see Metaplanet become one of the largest corporate bitcoin holders globally, the company said. Its holdings were valued at over $180 million as of Wednesday, according to data.

The “21 Million Plan” — likely a nod to bitcoin’s total supply — will involve the issuance of 21 million shares via moving strike warrants to raise around 116.65 billion yen (nearly $740 million at current exchange rates), in one of the largest equity capital raises for bitcoin in Asia.

The plan is designed to protect shareholder value by setting the exercise price at 100% of the previous day’s closing price, thus avoiding the dilution that is typically seen with traditional warrants.

Metaplanet is targeting an expected 35% BTC Yield each quarter. It achieved a 309.82% BTC Yield for Q4 2024 following a 41.7% BTC Yield in Q3 2024 — a move that saw its acquisition strategy put on the path to success, the announcement said.

“BTC Yield is the foundation of our strategy and the ultimate measure of our success,” said Dylan LeClair, Metaplanet’s Director of Bitcoin Strategy. “We don’t measure performance in fiat currencies like the yen or the dollar—our benchmark is Bitcoin itself.”

“Our mission is to maximize bitcoin per share for our shareholders. Bitcoin is not just an asset; it’s the exit strategy. We’re here to accumulate and lead, not sell,” LeClair added.

Shares of Metaplanet closed 5% higher on Wednesday.