Metaplanet Plans to Strengthen Bitcoin Portfolio with $62 Million Raise
Tokyo-listed investment firm Metaplanet is set to raise 9.5 billion yen (approximately $62 million) to bolster its Bitcoin holdings, according to a statement released on Nov. 28.
Series Moving Strike Stock Acquisition Rights
The funds will be raised through Metaplanet’s 12th Series Moving Strike Stock Acquisition Rights, with EVO FUND receiving the rights through third-party allotment between Dec. 17, 2024, and June 16, 2025.
Stock Price Surges
Following the announcement, Metaplanet’s stock rose by 6.5%, continuing its year-long rally and solidifying its position as one of Japan’s top publicly traded companies.
Emulating MicroStrategy
Metaplanet’s CEO, Simon Gerovich, highlighted the company’s financing strategy, which mirrors that of MicroStrategy. The “at-the-market” model allows Metaplanet to raise funds for expanding its Bitcoin holdings while ensuring shareholders benefit from a higher Bitcoin-per-share ratio.
“By raising capital in this way, we can grow our Bitcoin holdings at a faster rate than the increase in outstanding shares, providing a clear net benefit to our shareholders.”
Since transitioning to a Bitcoin-focused treasury in May, Metaplanet has acquired 1,142 BTC, worth $75.3 million. With Bitcoin’s value on the rise, the investment has grown by over 44%, reaching $108.5 million.
Addition to ETFs
Metaplanet’s growing prominence has led to its inclusion in the Amplify Transformational Data Sharing ETF (BLOK), as stated in a Nov. 27 report. The ETF tracks 53 leading blockchain-focused companies, including MicroStrategy, Robinhood, Nvidia, and SBI Holdings, managing over $930 million in assets.
“This inclusion highlights growing recognition of our leadership as Japan’s leading Bitcoin Treasury Company. BLOK holds a 4.4% stake in Metaplanet.”
