Metaplanet Doubles Down: Japan’s ‘MicroStrategy’ Targets 1% of All Bitcoin

Often referred to as Japan's response to MicroStrategy, Metaplanet has approved a plan to raise to USD 137 million through a third-party allocation of new common shares and stock acquisition rights. Clearing on January 28, 2026, the agreement calls for the issuance of 24.53 million shares at 499 yen each for around USD 80 million in immediate funding; additional capital may come from warrant exercises. Rather than a conventional Japanese listed firm, this decision confirms Metaplanet's identity as a Bitcoin-focused treasure play.

With 14 billion yen (around USD 91.2 million) set aside for BTC purchases, 1.5 billion yen for Bitcoin yield techniques including options and lending, and 5.2 billion yen allocated toward partial debt repayment on a USD 280 million debt pile, most of the revenues are intended for growing its Bitcoin position. With 35,102 BTC as of late 2025, Metaplanet is ranked fourth worldwide among public corporations in terms of Bitcoin holdings. By 2027, the firm is aiming for a large 210,000 BTC—approximately 1% of all Bitcoin supply—through its subsidiary Metaplanet Lightning Capital, showing an ultra-aggressive accumulation plan.

Metaplanet has increased its 2026 revenue and profit projection despite Bitcoin's drop to about $87,800, leaning into the long-term worth of its BTC holdings rather than short-term price fluctuations. Management sees the capital raise as a strategic balance sheet improvement consistent with its Bitcoin-maxi playbook, expecting only a limited short-term financial effect on results for fiscal year 2026. With connected warrants exercisable through February 13, 2026, the share allotment and payment are scheduled, therefore setting Metaplanet for a fresh wave of BTC purchasing power in the months ahead.