On June 25, Metaplanet - a company listed in Japan and well-known for its aggressive investment strategy in Bitcoin - announced the successful raising of 74.9 billion Japanese yen, equivalent to about 515 million USD, through the issuance of 54 million new shares for the first time under the 20th stock purchase rights program.
This issuance accounts for approximately 29% of the total stock purchase rights that the company has registered for issuance. According to the plan, Metaplanet has about 1.31 million unexercised stock purchase rights left, equivalent to about 131 million additional shares that could be issued in the near future.
This fundraising move is part of Metaplanet's long-term strategy to expand its Bitcoin investment portfolio. Previously, the company announced plans to issue a total of 555 million new shares - accounting for about 92% of the total shares outstanding - with the aim of raising approximately 5.4 billion USD to purchase more Bitcoin.
By continuing to implement stock issuances to invest in digital assets, Metaplanet is gradually asserting its position as one of the pioneering companies in Japan in adopting the 'Bitcoin as reserve asset' strategy - similar to the model that MicroStrategy has pursued in the US.
Source: Allinstation by HC Capital
