[NEWS] Metaplanet announces plan to raise up to 9.5 billion yen to purchase Bitcoin

Metaplanet, listed on the Tokyo Stock Exchange Standard Exchange, announced on the 28th that it plans to issue stock acquisition rights and raise up to approximately 9.5 billion yen. The majority of the funds will be used to purchase Bitcoin (BTC).

Of the funds raised, approximately 9.1 billion yen will be used to purchase Bitcoin, and the planned period for expenditure is from December 2024 to June 2025. The remainder will be used as working capital. In addition, if surplus funds are generated from existing hotel business or Bitcoin-related derivative trading income, they may not be used for working capital but may be used for additional Bitcoin purchases or operations using Bitcoin.

Metaplanet stated that "it is necessary to raise funds and purchase Bitcoin as soon as possible," indicating its intention to continue purchasing and increasing Bitcoin.

Metaplanet has been actively investing in and utilizing Bitcoin since the beginning of this year. Through this "Bitcoin first, Bitcoin only" approach, they are building a financial strategy through Bitcoin, rather than the weakening yen. On the 18th of this month, Metaplanet also announced that they would raise funds through the issuance of corporate bonds.

Metaplanet's Bitcoin holdings were 1,142.287 BTC as of the 19th of this month. At the time of writing, the value of the Bitcoin holdings was 16 billion yen.

Metaplanet's CEO Simon Gerovich commented, "We will further strengthen our position as Asia's first Bitcoin treasury company." He added, "We will directly increase the Bitcoin holdings per share, which means that each Metaplanet share will represent a larger proportion of the total Bitcoin holdings," and "By raising funds in this way, we will be able to increase our Bitcoin holdings at a pace that exceeds the increase in the number of shares issued, providing clear benefits to shareholders."

Reference: Announcement
Image: Shutterstock

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