Bitcoin Buyer Metaplanet Jumps on $5.4 Billion Fundraising Plan

Metaplanet Inc.’s plan to raise about $5.4 billion to add to a Bitcoin stockpile that’s already worth close to $1 billion saw the company’s shares jump on Monday.

Metaplanet on Friday announced a stock acquisition rights program that it claimed is the largest in Japanese capital markets history, according to a post on X. The firm, a hotelier-turned-Bitcoin-buyer, expects to accumulate 210,000 Bitcoin by the end of 2027, many times the 8,888 it currently holds. Its shares — which have proven highly volatile since it pivoted into crypto in early 2024 — rose as much as 22% on Monday morning in Tokyo, according to data compiled by Bloomberg.