Metaplanets Bitcoin Acquisition Surges 644 Since the Beginning of the Year with a 10 Billion Yen Investment

Coin World Report:
Under the leadership of MicroStrategy, Metaplanet has raised 10 billion yen to expand its Bitcoin holdings.
Despite a 5.85% drop in stock price, Metaplanet has still risen by 644% year to date.
Japanese company Metaplanet has recently gained attention for its significant increase in Bitcoin (BTC) holdings.
As of the latest update, Metaplanet, often referred to as the Asian MicroStrategy, has raised 10 billion yen in new capital through recent stock sales based on the 11th series of stock acquisition rights.
Metaplanet’s new Bitcoin strategy has, in fact, increased its Bitcoin holdings to a total balance of 861.4 BTC, according to the latest data on Bitcoin national bonds.
This highlights the company’s plan to follow in the footsteps of MicroStrategy and expand its Bitcoin holdings using these funds.
A total of 13,774 shareholders participated, with the exercise of these rights fully supported by EVO FUND, resulting in substantial profits.
Meanwhile, Bitcoin has experienced a 2% drop in price after encountering resistance at $69,000, reflecting the ongoing volatility in the market.
As of the latest update from CoinMarketCap, the trading price of BTC is $66,942.
Metaplanet CEO, Somyong Gerovich, commented on this, stating, “Metaplanet Co., Ltd. has concluded the exercise period of its 11th stock acquisition rights, with a participation rate of 72.8% among 13,774 individual shareholders.”
He added, “The company also approved the transfer of unexercised rights to EVO FUND, which has committed to exercising all transferred rights by October 22, 2024.”
Gerovich explained that once the process of issuing stock acquisition rights is fully completed, Metaplanet will have successfully raised a total of 10 billion yen.
He also expressed gratitude for the support and financial contributions from shareholders, which are crucial to the company’s goal of becoming a major BTC holder.
The term “final result” refers to the complete accounting and reporting of funds raised by EVO FUND (the entity exercising these stock acquisition rights) after the transaction is completed.
In summary, Metaplanet is updating shareholders on its progress and reiterating its commitment to advancing its Bitcoin-focused mission with the use of these funds.
Impact on Metaplanet’s stock price:
Following today’s stock sale, Metaplanet’s stock price has dropped significantly, down 5.85% to below 1,200 yen.
Despite this decline, the company still maintains a strong position, with a 644% increase in year-to-date earnings.
As of the latest news, Metaplanet’s stock price further dropped by 6.09% and closed at 1,188 yen.
This volatility reflects the market’s immediate response to the stock sale, but in the long run, the company’s overall performance continues to show impressive growth.
Therefore, by accepting Bitcoin, Metaplanet seeks to address Japan’s challenging economic conditions characterized by negative interest rates and quantitative easing.
This bold approach allows the company to hedge against the country’s financial challenges while aligning with the global shift towards digital assets.