Metaplanet targets $250 million raise for Bitcoin push

Metaplanet Inc. plans to establish a wholly owned subsidiary in Florida and raise $250 million to expand its Bitcoin (CRYPTO:BTC) treasury strategy.  

The Tokyo-listed investment firm will operate the new entity under the name Metaplanet Treasury Corp. to improve access to U.S. institutional investors and support around-the-clock operations.  

The company stated in a translated post that Florida was selected due to its emergence as a hub for Bitcoin adoption and financial liberalization.  

"With planned capital of up to $250 million, this move will accelerate its Bitcoin treasury strategy and serve as a crucial step in expanding access to liquidity for institutional investors in one of the world's leading capital markets," said CEO Simon Gerovich.  

Metaplanet currently holds 5,000 BTC worth approximately $473 million and aims to double its holdings to 10,000 BTC.  

This month alone, it acquired over 1,650 BTC valued at around $156 million.  

The expansion is supported by a $745 million capital raise, described as the largest of its kind in Asia, structured around zero-discount moving strike warrants.  

These financial instruments function like options, giving investors the right to purchase shares at a shifting strike price.  

Metaplanet began its Bitcoin strategy in April 2024 with just 97.8 BTC and has steadily increased its holdings.  

Its BTC Yield metric, which compares Bitcoin holdings to outstanding shares, rose from 42% to 310% in 2024 and reached 95.6% in the first quarter of 2025.  

The company’s approach mirrors that of Strategy’s founder Michael Saylor, and it recently added Eric Trump to its strategic advisory board.  

No official records for the Florida subsidiary have appeared yet in the state’s business registry.

At the time of reporting, the Bitcoin price was $94,838.79.