Japanese investment firm Metaplanet has unveiled an aggressive strategy to accumulate 210,000 Bitcoin by 2027, seeking custody of approximately 1% of the cryptocurrency’s total supply. The company will utilize capital market instruments, including bond issuances and equity offerings, to fund its ambitious purchasing plans, raising up to $5.3 billion.
Building on its recent acquisition of 1,112 Bitcoin for $117.2 million, Metaplanet’s total holdings now stand at 10,000 BTC, partially funded through a previous $210 million bond issuance. The firm’s average acquisition cost for its existing Bitcoin holdings is approximately $94,697 per BTC, with current market prices exceeding $105,000, representing significant unrealized gains.
Positioning itself as Asia’s premier publicly traded Bitcoin proxy akin to MicroStrategy, Metaplanet faces market skepticism reflected in its stock being one of Japan’s most shorted. Analyst assessments indicate that Metaplanet’s current valuation implicitly factors in a future Bitcoin price target surpassing $596,000.
The strategy marks a significant institutional commitment within Asia. If executed according to plan, Metaplanet’s approach – leveraging capital markets to scale crypto exposure without direct corporate capital outlays – could influence broader institutional adoption pathways for Bitcoin in the region.