August 06, 2024
Metaplanet, a publicly listed Japanese company, plans to raise up to ¥10.08 billion ($70 million) by issuing stock acquisition rights to existing shareholders. Most of the funds will be used to buy more Bitcoin.
Shareholders of record on September 5 will receive one stock acquisition right per common share, allowing them to purchase Metaplanet stock at 555 yen (~$4) between September 6 and October 15. Currently holding around 246 bitcoins worth ~$13.4 million, Metaplanet aims to significantly increase its Bitcoin holdings with the $70 million raise as part of its long-term strategy.
Metaplanet aspires to become Japan's leading publicly traded Bitcoin holding company, following MicroStrategy's model to create shareholder value. By adopting Bitcoin as a reserve asset, Metaplanet aims to benefit from its long-term appreciation potential and hedge against fiat currency depreciation, thereby strengthening its balance sheet and supporting future growth.
About Metaplanet
Metaplanet Inc., a publicly traded company on the Tokyo Stock Exchange, has strategically shifted its focus to Bitcoin as its primary treasury reserve asset. With over a decade of diversified business experience in finance, trading, and real estate, Metaplanet aims to maximize shareholder value through Bitcoin accumulation. The company also offers consulting services to help other organizations adopt Bitcoin as a corporate reserve asset. This strategic pivot is part of Metaplanet's broader vision to leverage Bitcoin's unique properties, such as scarcity and non-political monetary policy, to enhance financial stability and growth.
Website: https://metaplanet.jp/
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