Metaplanet, often called "Asia's MicroStrategy," has received shareholder approval for an ambitious plan to acquire 210,000 Bitcoin by 2027. The Japanese investment firm's "555 Million Plan" would give it ownership of 1% of Bitcoin's total supply—a remarkable concentration that mirrors the strategy that made MicroStrategy a Wall Street darling.

The 210,000 Bitcoin Target

Metaplanet's approved accumulation roadmap:

  • 2025 goal: 30,000 BTC (achieved or nearly achieved)
  • 2026 target: 100,000 BTC
  • 2027 ultimate goal: 210,000 BTC

At current prices around $87,000, 210,000 Bitcoin would be worth approximately $18.3 billion. The target represents 1% of Bitcoin's maximum supply of 21 million coins.

The "555 Million Plan"

To fund the massive accumulation, Metaplanet approved issuing warrants worth approximately $5.4 billion (555 million yen series). The plan mirrors MicroStrategy's approach of using equity-linked financing to build Bitcoin holdings.

Key elements include:

  • Issuing convertible instruments to raise capital
  • Using proceeds to purchase Bitcoin at opportune prices
  • Holding Bitcoin as a long-term treasury asset

Following the MicroStrategy Playbook

Metaplanet's strategy closely follows MicroStrategy, the U.S. business intelligence firm that pioneered corporate Bitcoin adoption. Under CEO Michael Saylor, MicroStrategy has accumulated over 400,000 Bitcoin and seen its stock price surge as a leveraged bet on the cryptocurrency.

The playbook works as follows:

  • Issue equity or debt to raise capital
  • Purchase Bitcoin with proceeds
  • Stock trades as a Bitcoin proxy, often at a premium to net asset value
  • Use elevated stock price to raise more capital
  • Repeat the cycle

Why Japan?

Metaplanet's location in Japan provides unique advantages:

Regulatory clarity: Japan has relatively clear cryptocurrency regulations compared to other major economies.

Asian investor demand: Provides regional investors with exposure to a Bitcoin treasury strategy without needing U.S. brokerage accounts.

Currency hedge: Bitcoin holdings can serve as a hedge against yen depreciation.

Risks and Considerations

The aggressive Bitcoin accumulation strategy carries significant risks:

Bitcoin volatility: A significant price decline would impair Metaplanet's balance sheet and stock price.

Dilution: Raising $5.4 billion through equity-linked instruments dilutes existing shareholders.

Leverage: Using debt to buy volatile assets amplifies both gains and losses.

Concentration: Betting the company on a single asset class is inherently risky.

Current Bitcoin Price

As of Christmas Day, Bitcoin trades around $87,400—well below its 2025 high near $126,000 but significantly above the lows seen earlier in the year. The current price provides Metaplanet a potentially attractive entry point for continued accumulation.

Institutional Adoption Context

Metaplanet's plan comes amid broader institutional Bitcoin adoption:

  • Vanguard recently allowed 50 million customers access to Bitcoin ETFs
  • BlackRock's IBIT has attracted over $25 billion in inflows
  • GameStop and other companies have added Bitcoin to their treasuries
  • Multiple corporations exploring Bitcoin as a reserve asset

The Bottom Line

Metaplanet's approved plan to accumulate 210,000 Bitcoin by 2027 represents one of the most ambitious corporate cryptocurrency strategies ever announced. If successful, the Japanese firm would own 1% of all Bitcoin ever created. The strategy carries significant risks but has worked spectacularly well for MicroStrategy. For crypto enthusiasts, Metaplanet's shareholder approval is another sign of Bitcoin's growing acceptance as a legitimate corporate treasury asset. For skeptics, it's a reminder of the speculative excess that characterizes parts of the cryptocurrency market.