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Japanese investment firm Metaplanet has completed its 11th series of stock acquisition rights, raising $66 million (10 billion yen). Of the 18.1 million stock rights issued, 72.8% were exercised, demonstrating strong confidence from the investor community in the company’s prospects. According to reports, the stock acquisition rights attracted 13,774 shareholders, who opted to exercise their rights.
Metaplanet Increases its BTC Holdings
Shareholders had the right to buy more shares at a set price. This helped the company raise money and enabled shareholders to own more of the business. Notably, shareholders could exercise their rights from September 6 to October 15. It allowed them enough time to decide whether to use their rights or let them expire.
Evo Fund stood out by exercising its stock acquisition rights to take a 14.9% ownership stake in Metaplanet. This significant move shows that Evo Fund believes in Metaplanet’s long-term vision and growth strategy. Metaplanet now holds 864.1 BTC.
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Meanwhile, the funds raised will help the company support ongoing projects, drive innovation, and explore potential acquisitions. This achievement also shows strong support from shareholders, as a large. Likewise, the capital injection will provide financial flexibility and maintain Metaplanet’s competitive edge in the market.
Metaplanet Stock Experiences Surge
On October 15, shares of Metaplanet soared by 15.7% following an announcement of its latest acquisition of nearly 107 Bitcoin (BTC). The company revealed that this recent purchase brings its total BTC holdings to 855.5 BTC, worth approximately $56.1 million. In another statement released the same day, Metaplanet disclosed that it spent around $6.7 million (1 billion yen).
The funds were used to acquire 106.976 BTC at an average price of $62,520 per coin. This aggressive Bitcoin acquisition strategy has significantly influenced Metaplanet’s stock performance. Since April, when Metaplanet first unveiled its Bitcoin investment strategy, its share price has surged by 480%. This reflects the market’s positive reception to the company’s crypto-forward approach.
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Rising Among Corporate Bitcoin Holders
While the Tokyo-listed company continues its aggressive accumulation of BTC, it remains behind corporate giants like Michael Saylor-led MicroStrategy. MicroStrategy is the largest corporate Bitcoin holder with 252,220 BTC. However, MicroStrategy is renowned for periodic Bitcoin accumulation. Meanwhile, market watchers speculate that Michael Saylor might be betting on prices to witness a surge soon.
Marathon Digital follows with 26,842 BTC. Nevertheless, Metaplanet’s increasing commitment to Bitcoin highlights a growing trend among institutions, as more companies embrace digital assets as their financial strategy.
