Metaplanet Raises 10 Billion Yen ($66M) Through Stock Rights to Expand Bitcoin Holdings

Oct 23, 2024, 07:10 AM

Japanese investment firm Metaplanet Inc. has successfully raised 10 billion yen ($66 million) through its 11th series of stock acquisition rights. The funds were raised from 13,774 shareholders, with 72.8% of the 18.1 million rights issued being exercised at a price of 555 yen each. The capital will be used to expand Metaplanet's Bitcoin holdings, as the company aims to become a major Bitcoin holder. The stock sale was supported by notable investors, including BlackRock. This move positions Metaplanet as Asia's version of MicroStrategy, focusing on substantial Bitcoin investments while Bitcoin hovers around $69k.