Metaplanet announces $5.4 billion share offering to boost Bitcoin acquisition, targets 210K BTC by 2027

Metaplanet announced the issuance of a 555 million share offering, valued at $5.4 billion, to acquire more Bitcoin (BTC) while expanding its accumulation target from 21,000 BTC to 210,000 BTC by the end of 2027. Meanwhile, Strategy announced an upsize of its STRD stock offering from $250 million to $1 billion, aiming to boost its Bitcoin holdings.

Metaplanet eyes 1% of total Bitcoin supply as Strategy upsizes capital plan

Japanese firm Metaplanet unveiled its updated strategy for acquiring Bitcoin following the issuance of a 555 million share offering, with expected proceeds of $5.4 billion.

The company entered into a purchase agreement concerning Stock Acquisition Rights with EVO FUND for what it termed the "largest Stock Acquisition Rights issuance in Japan capital markets history."

Metaplanet stated that the 555 million share offering comes after it announced an initial capital plan of 210 million shares offering in May. The company stated that it plans to increase its BTC holdings with the proceeds from the offering.

"On behalf of our shareholders, we will prudently and swiftly accumulate as much Bitcoin as possible," Metaplanet stated in a filing on Friday.

In line with this new strategy, Metaplanet has increased its Bitcoin target from 21,000 BTC by the end of 2026 to 100,000 BTC. This aligns with its plan to hold 1% of the total Bitcoin supply, approximately 210,000 BTC, by 2027. The company currently holds a total of 8,888 Bitcoin, valued at $934 million.

Strategy (MSTR/STRK/STRF), the largest corporate holder of Bitcoin, plans to increase its Bitcoin holding following a capital upsize of its STRD stock offering from $250 million to $1 billion.

In a press release on Friday, Strategy announced that it would raise its 10.00% Series A Perpetual Stride Preferred Stock (STRD) offering to $85 per share. The company expects to receive proceeds of approximately $979.7 million, which it intends to use to expand its Bitcoin holdings.

Strategy currently holds 580,955 BTC acquired at an average price of $70,023 per Bitcoin.

Bitcoin trades near $104,500 on Friday, continuing its recovery from a brief decline below $101,000 on Thursday.