TL;DR
- Metaplanet Inc. has raised $66 million through a stock acquisition rights program with the participation of 13,774 shareholders.
- The company has taken an aggressive approach to investing in Bitcoin, accumulating 855,478 BTC after its recent purchase of 106.976 BTC for 1 billion yen.
- Despite a 6.57% drop in its stock value, Metaplanet has seen a 593.75% increase in its price over the year.
The Japanese firm Metaplanet Inc. has raised approximately 10 billion yen, equivalent to $66 million, through a successful stock acquisition rights program.
The announcement came after the completion of its eleventh rights round, in which 13,774 shareholders participated. The company launched this initiative to allow shareholders to purchase shares at reduced prices, aiming to strengthen its position in the Bitcoin market.
The period for exercising acquisition rights began on September 6 and ended on October 15, raising a considerable sum that reinforces Metaplanet’s mission to become a leader in Bitcoin Treasury. Simon Gerovich, CEO of the company, expressed his gratitude to shareholders for their support, highlighting that the fundraising is key to achieving the company’s strategic objectives.
Metaplanet Grew Nearly 600% This Year
Metaplanet has opted for an aggressive investment approach in Bitcoin, starting in May when it announced its decision to adopt BTC as its strategic reserve asset. In one of its latest purchases, the company acquired 106.976 BTC, representing an investment of around 1 billion yen, bringing its total holdings to 855.478 BTC. At current market prices, this figure translates to approximately $57.4 million, consolidating BTC as a central pillar of its investment strategy.
The company has also adjusted the terms of its Bitcoin put options, raising the strike price from $62,000 to $66,000, reflecting an optimistic outlook on the future of the cryptocurrency. Despite the recent 6.57% decline in its stock value, Metaplanet has experienced a 593.75% increase year-to-date, suggesting growing interest from investors.
Metaplanet continues to establish itself in the crypto industry. The company seeks to capitalize on the opportunities presented by this market, while other entities like MicroStrategy and Marathon Digital also stand out in the same sector
