Japanese Firm Metaplanet Raises $62 Million for Bitcoin Purchase
Japanese investment firm Metaplanet announced plans to raise $62 million by issuing stock acquisition rights to EVO Fund. The funds raised will be used to purchase more Bitcoins for financial management.
The company emphasized that it will continue to maintain its Bitcoin-first strategy.
Metaplanet outlines its strategy in the media releaseconfirmed the issuance of the 12th batch of stock acquisition rights. Starting from December 16, 2024, the company will allocate 29,000 units through a third-party rights issue.
Each unit entitles EVO Fund to purchase 100 shares of common stock at a price of 614 yen per share, for a total of 17,806,000 yen.
“We have prioritized a Bitcoin-first, Bitcoin-only approach to treasury management. We have made clear our intention to use debt and periodic equity issuances to systematically grow our Bitcoin holdings while reducing the risk of a depreciating yen .” Metaplanet said in a press release.
Metaplanet has been actively using stock acquisition rights to increase its Bitcoin holdings this year.
In October, the company completed its 11th issuance, Raised 10 billion yen ($66 million)a large portion of which is allocated to further Bitcoin purchases. In 2024, the company’s stock price soared more than 1,000%.
Publicly traded companies continue to buy more Bitcoin
listed company Invest more and more in Bitcoin. Yesterday, Chinese listed companies SOS Limited also purchased $50 million worth of BTC. After the news broke, its stock price soared more than 100%.
Additionally, MicroStrategy recently acquired Another $5.4 billion worth of BTC. This is its third round of Bitcoin purchases in November alone. The company has spent more than $16 billion on Bitcoin this year, maintaining its position as the Bitcoin leader. Largest Institutional Bitcoin Holders.
Similar to other companies, MircoStrategy’s stock performance has mirrored Bitcoin’s surge. Its shares are up 450% so far this year, placing it among the Top 100 U.S. Public Companies.
Other companies are also increasing their investments in Bitcoin. Marathon Digital recently raised $1 billion through a convertible senior notes offering, with the majority of the funds earmarked for Bitcoin acquisitions.
Bitcoin’s price performance continues to inspire optimism. Despite reaching $99,000 this cycle, public companies remain confident in Bitcoin’s long-term potential.
In fact, Pantera Capital recently predicted Bitcoin could hit $740,000 by 2028enhancing bullish sentiment across the industry.
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