Japanese Investment Firm Metaplanet Inc.
Metaplanet Inc., a Japanese investment firm, has successfully raised approximately 10 billion yen ($66 million) by completing its stock acquisition rights exercise. The firm is actively investing in bitcoin.
On Wednesday, the Tokyo-listed company revealed that its 11th planned stock acquisition rights were exercised with participation from 13,774 individual shareholders. Shareholders had the option to purchase shares at a discount during the acquisition period, which ran from September 6 to October 15.
Metaplanet raised these funds through this initiative and expressed gratitude towards shareholders for their support. CEO Simon Gerovich emphasized the importance of this backing in Metaplanet’s goal of becoming a prominent bitcoin treasury company.
Although details on the usage of the newly raised funds remain unspecified, Metaplanet has recently intensified its bitcoin investments. The company disclosed in May its intention to adopt bitcoin as its strategic treasury reserve asset. Earlier this month, it added 106.976 bitcoin worth around 1 billion yen ($6.6 million), increasing its total holdings to 855.478 BTC, valued at approximately $57.4 million.
Additionally, Metaplanet announced last week that it had adjusted the strike price of its bitcoin put options to $66,000, up from $62,000, indicating a positive outlook on the largest cryptocurrency.
Despite a 6.57% decline in stock price to 1,110 yen on Wednesday, Metaplanet's stock has increased by 6.53% over the past month and an impressive 593.75% year-to-date, amidst a 0.8% decrease in the Nikkei 225 index.
In the corporate bitcoin landscape, MicroStrategy, led by Michael Saylor, remains the largest holder with 252,220 BTC, followed by Marathon Digital at 26,842 BTC.
Comments (0)