Metaplanet Raises $255 Million for Bitcoin Buys

Metaplanet, a Japanese investment firm focused on Bitcoin treasuries, announced on March 16, 2026, that it had raised $255 million through a private placement of new shares to institutional investors, with the funds earmarked for additional Bitcoin purchases as part of its strategy to build a 210,000 BTC holding by 2027.

The company sold the shares at a 2 percent premium to market price, attracting global institutional participation. Alongside the placement, Metaplanet issued fixed-strike warrants at a 10 percent premium, which could generate another $276 million if fully exercised. In a further innovation, it launched moving strike warrants tied to a market net asset value (mNAV) clause, potentially unlocking $234 million more, exercisable only when the stock trades above 1.01 times mNAV. This structure aims to protect shareholders from dilution by ensuring new shares increase Bitcoin per share value. CEO Simon Gerovich described the total potential as up to $531 million in "firepower" for accumulation, stating on social media, "Metaplanet has raised $255m from global institutional investors via a placement of new shares priced at a 2 premium, paired with fixed-strike warrants...