Metaplanet, a Tokyo-listed investment firm, is planning to raise 9.5 billion yen, which is around $62 million, to strengthen its Bitcoin portfolio. The company revealed that the funds will be raised through its 12th Series Moving Strike Stock Acquisition Rights, which will be allocated to EVO FUND via third-party allotment between December 17, 2024, and June 16, 2025. This move by Metaplanet follows a similar strategy employed by MicroStrategy, a leading corporate Bitcoin holder.
CEO Simon Gerovich highlighted that the company’s financing approach mirrors that of MicroStrategy, allowing the firm to raise funds to expand its Bitcoin holdings while ensuring shareholders benefit from a higher Bitcoin-per-share ratio. This approach enables the company to accelerate its Bitcoin acquisition rate without significantly diluting shareholder value. Since transitioning to a Bitcoin-focused treasury in May, Metaplanet has added 1,142 BTC to its portfolio, spending $75.3 million. With Bitcoin’s value rising, this investment has grown by over 44%, pushing its worth to $108.5 million.
Metaplanet’s stock surged by 6.5% following the announcement of its Bitcoin expansion strategy, continuing a year-long rally that has positioned it as one of Japan’s most prominent publicly traded companies. The company’s growing prominence has also led to its inclusion in the Amplify Transformational Data Sharing ETF (BLOK), which actively identifies key players in the blockchain space and tracks 53 leading blockchain-focused companies. BLOK manages over $930 million in assets and holds a 4.4% stake in Metaplanet.
The inclusion in a major blockchain ETF affirms Metaplanet’s role as a frontrunner in Japan’s Bitcoin market, as it joins other notable names such as MicroStrategy, Robinhood, Nvidia, and SBI Holdings in the fund. This recognition highlights the company’s leadership as Japan’s leading Bitcoin Treasury Company and its growing importance in the blockchain space.
Overall, Metaplanet’s $62 million Bitcoin expansion strategy follows in the footsteps of MicroStrategy, demonstrating its commitment to strengthening its Bitcoin portfolio and solidifying its position as a key player in the cryptocurrency market. The company’s innovative financing approach and strategic investments have not only benefited its shareholders but also positioned it as one of Asia’s largest corporate Bitcoin holders and 18th globally among publicly traded companies.
