Metaplanet raised $255M to boost Bitcoin holdings to 100,000 by 2026, with stock up 5% after Bitcoin passed $73,000.

Metaplanet raised $255 million in a private placement, with potential additional funding of $276 million from warrants, aiming to grow its Bitcoin holdings from 35,102 BTC to 100,000 by 2026 and 210,000 by 2027. The company issued moving strike warrants tied to its market net asset value, exercisable only if the stock trades above 1.01x mNAV, a structure designed to limit dilution. It plans to use up to $357 million for Bitcoin purchases, repay debt, and invest in startups and Japan’s crypto ecosystem. The stock rose nearly 5% as Bitcoin surpassed $73,000.