Metaplanet shares rise more than 3,500 percent due to Bitcoin strategy

That Bitcoin is starting to become a fixture on traditional stock markets is no longer proven only by the spectacular success of Strategy (formerly MicroStrategy) led by Michael Saylor in the US. International followers are also posting high returns on their shares, with Japan's Metaplanet as a notable example. According to recent data from Yahoo Finance, the company's share price rose 3,575 percent year on year to a current value of 5,880 yen (about 37.36 euros). It was not until April 2024 that Metaplanet launched an ambitious Bitcoin strategy, making the company the fifteenth largest corporate Bitcoin holder in the world.

Meanwhile, Japan's leading Bitcoin company owns 1,762 BTC, worth US$173 million. The largest and most recent Bitcoin purchase occurred just before Christmas, when the company suddenly acquired 619.7 BTC on Dec. 23. Although this is only 0.4 percent of the 478,740 BTC held by Strategy, Metaplanet has already far surpassed both its major competitor and Bitcoin in stock returns.

On Monday, the company announced via an X-Post that it will again issue bonds worth 4 billion yen (about 25.4 million euros) to finance further Bitcoin purchases.

At the time of writing, this amount would account for about 270 BTC. However, CEO Simon Gerovich has big plans and said at the beginning of the year, "Our goal is to expand our Bitcoin stock to 10,000 BTC by using the best available capital market instruments."

The vision: 21,000 Bitcoin by the end of 2026 Metaplanet plans to buy one thousandth of all Bitcoin ever in existence within two years, which currently amounts to 21,000 BTC worth about US$2.06 billion. "Our vision is to lead the Bitcoin Renaissance in Japan and become one of the largest Bitcoin holders worldwide. This plan is our commitment to this future," Gerovich explained. Dylan LeChair, director of Bitcoin strategy, adds, "Our goal is to maximize our BTC per share for shareholders. Bitcoin is more than an asset; it's our exit strategy. We are here to accumulate and lead, not sell."

Currently, Metaplanet is said to be the third-largest Bitcoin holder worldwide with 21,000 BTC. But the competition is not sitting still. Companies like MicroStrategy, Marathon Digital and Semler Scientific are increasingly joining the race for digital gold. With a new "21 million plan," which includes the issuance of 21 million shares via moving-strike option trains, Metaplanet is aiming to get as large a share of the scarce BTC cake as possible. In the process, it will raise more than 116.65 billion yen (about 740 million euros) in fresh capital, the largest capital raising for Bitcoin purchases in Asia to date.