Japanese investment firm Metaplanet has officially set a goal to hold 210,000 Bitcoin (BTC) in its corporate treasury by the end of 2027. At current prices, this target represents a holding worth approximately $18.5 billion. The company's board passed the necessary equity proposals at an extraordinary shareholder meeting, with strategy director Dylan LeClair confirming unanimous shareholder backing.
The approved plans are designed to finance massive Bitcoin purchases without immediately diluting the value for current shareholders. Metaplanet will shift capital stock and reserves to increase capacity for dividends and potential share buybacks. A key part of the strategy involves issuing new classes of shares: Class A shares, which are more expensive but confer voting rights, and Class B shares, which are cheaper, non-voting, and offer more flexibility for smaller investors.
These new shares come with innovative features to attract capital. They will have a floating interest rate that changes with the market, lowering the upfront cost for investors. Furthermore, they will pay quarterly dividends—a rarity among Bitcoin-focused firms. For Class B preferred shares, Metaplanet includes a 10-year, 130% "issuer call" option, allowing the company to buy back shares at 130% of their original cost after a decade. There is also a put right feature, enabling investors to force a buyback at a preset price if Metaplanet does not go public within a year, providing liquidity safety.
Analyst Hermes Lux, who tracks Bitcoin treasuries, projects that Metaplanet's stock could surge by 1,500% by the end of 2027, assuming Bitcoin grows 40% annually and the company hits interim targets of 100,000 BTC by 2026 and 210,000 BTC by 2027. For 2026 alone, Lux forecasts a 402% upside for the stock.
This aggressive accumulation contrasts with a broader trend where many global crypto treasuries are under pressure. However, other Japan-based digital asset treasuries on the Tokyo Stock Exchange have also been active, recently purchasing around $2.6 million worth of Bitcoin with plans to buy more in 2026.
Metaplanet currently has three trading stocks: the new MPJPY (backed, trading U.S. OTC), MTPLF (unbacked U.S. listing), and the original stock 3350 on the Tokyo Stock Exchange. All three have gained between 6% and 28% over the past month, outperforming Bitcoin's sub-1% gain and MicroStrategy's (MSTR) 12% decline in the same period.
