MetaplanetIt is a publicly listed Japanese company. Announced The company plans to raise up to 10 billion 80 million yen ($70 million) through a gratis allotment of stock acquisition rights to existing shareholders, most of which will be used to purchase additional Bitcoin.
Latest Update: 🇯🇵Metaplanet raises $108 million and announces further acquisitions #Bitcoin pic.twitter.com/HXBf7RNeMx
— Bitcoin Magazine (@BitcoinMagazine) August 6, 2024
company Issue one stock acquisition right Shareholders who are registered on the shareholder register as of September 5 will be granted rights of 555 yen (approximately $4) per common share. These rights will allow shareholders to acquire Metaplanet common shares at an exercise price of 555 yen (approximately $4) during the exercise period from September 6 to October 15.
Metaplanet currently holds approximately 246 Bitcoins worth approximately $13.4 million, and the company is looking to raise $70 million to significantly expand its Bitcoin holdings as part of its long-term growth strategy.
This movement, MicroStrategya Nasdaq-listed business intelligence company. Since 2020, MicroStrategy has increased debt and sold stock to hold more than 220,000 Bitcoin, which is now worth billions of dollars.
Metaplanet hopes to create similar shareholder value following MicroStrategy’s strategy by establishing itself as Japan’s leading publicly-listed Bitcoin holding company. The company aims to be the first Japanese public company to adopt Bitcoin as a reserve asset.
Bitcoin offers the dual benefit of being both an asset with long-term appreciation potential and a hedge against the depreciation of fiat currencies. Building a Bitcoin treasury can strengthen a company’s balance sheet and support future growth initiatives.
Disclaimer: Bitcoin Magazine is wholly owned by BTC Inc., which also owns UTXO Managementis a regulatory capital allocator focused on the digital asset industry and has invested in Metaplanet. UTXO invests in various Bitcoin ventures and holds significant amounts of digital assets.
