Metaplanet To Raise $62 Million To Buy More Bitcoin, Calls Adding BTC ”Urgent”

Investment
firm
Metaplanet,
known
as
Japan’s
MicroStrategy,
plans
to
raise
over
$62
million
to
buy
more
Bitcoin
via
the
issuance
of
stock
acquisition
rights,
and
said
that
adding
more
BTC
to
its
holdings
is
“urgent.”

In
a
Nov.
28
statement,
Metaplanet
said
“we
recognize
the
urgent
importance
of
increasing
our
Bitcoin
holdings
and
have
therefore
decided
to
proceed
with
this
fundraising
initiative.”
The
company
currently
holds
1,142
Bitcoin,

Metaplanet
Notes
BTC’s
Growing
Prominence
While
The
Yen
“Continues
To
Depreciate”

Metaplanet
said
in
its


statement

that
it
would
issue
a
12th
Stock
Acquisition
Rights
to
the
Cayman
Islands-based
EVO
Fund
through
a
third-party
allotment
of
29,000
units.

*Metaplanet
Announces
Issuance
of
Moving
Strike
Stock
Acquisition
Rights
to
Raise
Up
to
¥9.5
billion
($62
million)
for
Accelerated
Bitcoin
Accumulation*

pic.twitter.com/bL7rs6Qkk4

—
Metaplanet
Inc.
(@Metaplanet_JP)

November
28,
2024

“The
majority
of
the
funds
raised
this
time
will
be
strategically
allocated
for
the
purchase
of
additional


Bitcoin,”
Metaplanet
said
in
its
statement.
The
investment
firm
then
noted
the
leading
crypto’s
prominence,
which
it
says
“continues
to
grow.”

Meanwhile,
the
“Japanese
yen
continues
to
depreciate,”
it
said,
adding
that
it
will
“systematically
increase”
its
BTC
holdings.

The
company’s
increased
push
for
BTC
follows
the
all-time
high
of
$99,645.39
the
crypto
set
on
Nov.
22.
The
USD/JPY
exchange
rate
returned
to
the
“154
level
on
the
same
day,
presenting
ongoing
concerns,”
Metaplanet
said
in
the
statement.

If
the
stock
acquisition
is
approved
under
Japan’s
Financial
Instruments
and
Exchange
Act,
it
would
run
between
Dec.
16
and
June
16,
2025. 

Metaplanet
Stock
Up
2,150%
Year-To-Date

Metaplanet
first
revealed
its
plans
to
buy
Bitcoin
in
April.
The
investment
firm’s
most
recent
Stock
Acquisition
Rights
was
in
October,
and
resulted
in
a
total
raise
of
$66
million.
These
funds
were
then
allocated
toward
the
purchasing
of
Bitcoin. 

The
company’s


Bitcoin

purchases
throughout
the
year
have
been
accompanied
by
a
steep
rise
in
Metaplanet’s
stock
price.
Year-to-date,
Metaplanet’s
stock
is
up
2,150%,
according
to


Google
Finance
data.

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