A Japanese company known as Metaplanet finished its 11th stock acquisition rights offering, raising ¥ $10 billion. More than 13,700 individual and corporate investors made $250,000 in just two months to secure the funds. The company will use this capital to expand its Bitcoin (BTC) holdings.
The stock offering, first raised in August 2024, had a 72.8% exercise rate. This shows that Metaplanet is willing to expand its cryptocurrency portfolio by raising these funds.
The company has adopted an aggressive strategy to position itself as the biggest player in the Bitcoin market.
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Global asset manager BlackRock participated in the round, showing institutional investors a strong interest in the stock offering. This also brought further credibility to Metaplanet’s strategy, as BlackRock was another backer with assets under management of $11 trillion.
The remaining stock rights not exercised were transferred to EVO FUND on the commitment to exercise them by October 22.
The involvement of these significant institutional investors endorses Metaplanet’s long-term strategy. It helps ensure Metaplanet can keep buying Bitcoin as part of its growth plan and represents the company’s ambition to become the largest corporate holder of Bitcoin in Asia.
Similarly, Metaplanet follows in the footsteps of MicroStrategy and other companies that have taken BTC into their corporate treasury.
Metaplanet wants to hedge against the uncertainties of the economy and risks of inflation by accumulating Bitcoin. Still, company leaders are in a good place, believing that the strategy will produce long-run returns.
Since beginning its Bitcoin acquisition in May 2024, Metaplanet has rapidly increased its holdings, reaching 861 BTC. By mid-October, the company’s latest buy added 107 BTC and pushed it further up in Asia Pacific’s top 3 Bitcoin holders list. This is because the company has been focusing on cryptocurrency as a long-term asset.
Although Bitcoin’s price has risen and fallen in the last few weeks, Metaplanet has no intention of canceling its acquisition plan. With Bitcoin prices starting to decrease slightly, the company believes there is an opportunity to scoop up more at better prices.
That’s just how Metaplanet wants to be to prevent the BTC reserve from becoming diluted in the turbulent cryptocurrency market and to build a substantial reserve.
As the top digital asset company in the region, Metaplanet has amassed Bitcoin, positioning itself as one of the leaders in that space.
According to the company, by continuously expanding further into the market, it benefits from the increasing global appetite for Bitcoin as a store of value. Metaplanet now holds about ¥ 8 billion in Bitcoin by October 2024, which is a remarkable milestone for the firm’s crypto economics.
Strong Investor Support Fuels Bitcoin Acquisition Plans
Investors backed Metaplanet’s plans when the stock acquisition rights offering turned out strong. You would think that widespread support for a company’s strategy of accepting Bitcoin, which is even enshrined in its values, would result in a fair representation within the boardroom.
Metaplanet’s vision to use Bitcoin to tackle economic challenges and drive financial innovation is attracting investors.
The company’s CEO, Simon Gerovich, expressed thanks to the shareholders who sold shares of the company’s stock. With this offering, we’ll raise capital to pursue the company’s long-term mission of becoming an active, leading Bitcoin treasury company.
Metaplanet, with the backing of both institutional and individual investors, is in a solid position to continue its aggressive Bitcoin acquisition strategy.
