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- Metaplanet successfully concluded its 11th stock acquisition rights offering, securing ¥10 billion in just two months.
- This impressive fundraising effort saw contributions from over 13,700 individual and corporate investors, highlighting robust investor engagement.
- The capital raised will be directed towards expanding Metaplanet’s Bitcoin holdings, aligning with the company’s strategic growth plans.
Metaplanet is a Japanese firm often dubbed Asia’s MicroStrategy. The firm has recently drawn attention for significantly boosting its Bitcoin (BTC) holdings.
Following a successful stock sale under the 11th series of Stock Acquisition Rights, the company raised 10 billion yen in fresh capital. This funding effort saw participation from over 13,700 individual and corporate investors. This collectively contributed $250,000 in just two months.
The stock offering, initiated in August 2024, achieved a 72.8% exercise rate. That underscored Metaplanet‘s commitment to expanding its cryptocurrency portfolio.
Metaplanet CEO Somin Gerovich noted,
“Metaplanet Inc. has concluded the exercise period for its 11th Stock Acquisition Rights, achieving a 72.8% exercise rate with participation from 13,774 individual shareholders.”
This aggressive strategy aims to position Metaplanet as a leading player in the Bitcoin market.
Metaplanet Will Use The Funds To Buy more BTC MicroStrategy’s BTC’s Treasury Path
Global asset manager BlackRock’s participation in Metaplanet‘s recent funding round highlighted strong institutional interest in the stock offering. This involvement adds significant credibility to Metaplanet’s strategy. With BlackRock, it managed $11 Trillion in assets.
Metaplanet CEO Somin Gerovich noted,
“The Company has also approved the transfer of unexercised rights to EVO FUND, which has committed to exercising all transferred rights by October 22, 2024.”
The unexercised stock rights were transferred to EVO FUND, with a commitment to exercise them by October 22. The backing of these major institutional investors supports Metaplanet’s long-term strategy. This ensures the company can continue expanding its Bitcoin holdings.
This move aligns with Metaplanet’s ambition to become Asia’s largest corporate Bitcoin holder. It follows the path of companies like MicroStrategy.
Metaplanet aims to hedge against economic uncertainties and inflation risks by accumulating Bitcoin. Company leaders are confident that this strategy will yield long-term returns.
Bitcoin Holdings Went Parabolic In Metaplanet
Since starting its Bitcoin acquisition in May 2024, Metaplanet has swiftly increased its holdings to 861 BTC.
By mid-October, the company added another 107 BTC. This solidified its position among the top three Bitcoin holders in the Asia Pacific. This growth is part of Metaplanet’s strategy to treat cryptocurrency as a long-term asset.
Despite recent fluctuations in Bitcoin’s price, Metaplanet remained committed to its acquisition plan. With prices dipping slightly, the company sees an opportunity to buy more Bitcoin at favorable rates.
This approach aims to prevent the dilution of its BTC reserves. This happened amid the volatile cryptocurrency market and to build a substantial reserve. As a leading digital asset company in the region, Metaplanet has positioned itself as a significant player in the Bitcoin space.
The company benefits from the growing global demand for Bitcoin as a store of value by continually expanding its market presence. As of October 2024, Metaplanet held approximately ¥8 billion in Bitcoin. This marked a significant milestone in its crypto strategy.
Additionally, the Metaplanet share price (3350 on TSE) was ¥1,110 when writing. The gains on a yearly basis were 688% YTD, while from yearly highs of 3,000, it was down 61%.
Backing Of STrong Investors Fuels Acquisition Plans Of Bitcoin
Investors have shown strong support for Metaplanet’s strategy. It was as evidenced by the successful stock acquisition rights offering. This widespread backing reflected confidence in the company’s vision of integrating Bitcoin into its core values and operations.
Metaplanet’s goal of leveraging Bitcoin to address economic challenges and foster financial innovation resonates with investors.
CEO Simon Gerovich thanked the shareholders who participated in the stock sale. This highlights that the capital raised will help advance the company’s mission to become a leading Bitcoin treasury firm.
With robust support from institutional and individual investors, Metaplanet is well-positioned to continue its ambitious Bitcoin strategy for acquisition.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.