Tokyo-listed Metaplanet raised ¥74.9 billion ($515 million) to fund its bitcoin accumulation plan. The firm aims to become one of the largest corporate holders of bitcoin worldwide.

Primary investor EVO Fund exercised 540,000 stock rights, converting them into 54 million new shares. This covers 29% of Metaplanet’s 20th warrant series. Another 1.31 million rights remain, which would yield 131 million shares if exercised.

Dubbed the “555 Million Plan,” Metaplanet aims to amass 30,000 bitcoin by the end of 2025 and reach 100,000 bitcoin by 2026. The firm currently holds 11,111 bitcoin and plans a $5 billion capital injection into its U.S. subsidiary.

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