This ambitious initiative, dubbed the '21 Million Plan,' will involve purchasing Bitcoin in stages, allowing Metaplanet to take advantage of favorable market conditions.

This structure aims to minimize dilution for existing shareholders by aligning new share issuance with fair market pricing.

The announcement was highlighted by Chinese journalist Colin Wu, who noted that Metaplanet aims to replicate MicroStrategy's successful investment approach.

To facilitate this capital raise, Metaplanet plans to issue 21 million shares through a 0% discount moving strike warrant structure, allowing buyers to purchase stocks at a fixed price based on the previous day's closing price.

This marks the latest series of stock acquisition rights allotted to EVO FUND, with the exercise period for these warrants set from February 18, 2025, to February 17, 2027.

Following the announcement of its acquisition plan, Metaplanet's shares saw a 3.1% increase, reflecting strong investor sentiment despite a muted reaction in Bitcoin prices.

Since November, Metaplanet's stock price has surged by 245%, paralleling a 57% increase in Bitcoin's value during the same period.

Ultimately, this initiative positions Metaplanet as a contender to become one of the largest corporate Bitcoin holders globally, reflecting growing institutional interest in cryptocurrency.

Metaplanet, a Tokyo-listed investment firm, is set to raise approximately $745.5 million (116 billion yen) to significantly increase its Bitcoin holdings.

Out of the total raised, 111.3 billion yen will be allocated for direct Bitcoin acquisitions, while 5 billion yen will support Bitcoin treasury operations that previously generated over 500 million yen in profits.

The company's strategy is designed to provide long-term value to shareholders by maximizing Bitcoin yield, having achieved an impressive 309.82% yield in the last quarter of 2024.

The backdrop for this move includes Bitcoin reaching a new all-time high in January 2025, while the Japanese yen continues to depreciate against the US dollar.