Japanese firm Metaplanet plans to raise more than $62 million (9.5 billion yen) through a share acquisition plan, aimed at expanding its Bitcoin treasury, which currently has 1,142 BTC valued at more than $109 million.
In a statement on November 28, the company announced the issuance of Share Purchase Rights to EVO Fund, an investment management firm in the Cayman Islands, with a goal of raising funds that will primarily be used to purchase more Bitcoin.
We recognize the urgent importance of increasing our Bitcoin holdings, given concerns over the depreciation of the yen and the rising prominence of Bitcoin after reaching an all-time high of $99,645 on November 22.
Metaplanet
Treasury strategy and change of focus
The acquisition plan, subject to approval under Japan’s Financial Instruments and Exchange Law, will run from December 16 to June 16, 2025. If it reaches its goal, Metaplanet could acquire approximately 652 additional BTC at the current price of $95,000 .
The company also confirmed that it is relegating its plans related to the Metaverse due to the lack of profitability prospects, instead incorporating the purchase and holding of Bitcoin as part of its corporate strategy.
We will use debt and periodic equity issuances to systematically increase our Bitcoin holdings while reducing exposure to a depreciated yen.
Metaplanet
In October, Metaplanet completed a similar initiative, raising $66 million that also went toward purchasing Bitcoin.
Other companies that join the movement
Metaplanet joins a growing group of companies that have added Bitcoin to their balance sheets this year:
- Rumblean alternative to YouTube, confirmed plans to acquire Bitcoin following its CEO’s announcement.
- Genius Groupan artificial intelligence firm, acquired 110 BTC for $10 million and plans to keep up to 90% of its reserves in Bitcoin.
- Semler Scientific added 215 BTC for $17.7 million, bringing its total holdings to 1,273 BTC.
With the price of Bitcoin near its all-time highs and growing institutional adoption, Metaplanet reinforces its strategy of investing in the digital asset as a measure to protect against yen volatility and global economic uncertainty.
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