{"id":24477,"date":"2024-11-29T10:54:08","date_gmt":"2024-11-29T10:54:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24477"},"modified":"2024-11-29T10:54:08","modified_gmt":"2024-11-29T10:54:08","slug":"metaplanet-aims-to-raise-62m-to-expand-109m-bitcoin-treasury","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24477","title":{"rendered":"Metaplanet Aims To Raise $62M To Expand $109M Bitcoin Treasury"},"content":{"rendered":"

Japanese investment firm Metaplanet is looking to bolster its Bitcoin reserves by raising over $62 million (9.5 billion Japanese yen) through a stock acquisition initiative. <\/span><\/p>\n

The firm\u2019s current Bitcoin treasury stands at 1,142 BTC, valued at <\/span>more than<\/span> $109 million.<\/span><\/p>\n

In a <\/span>statement <\/span>issued<\/span> on 28 November 2024<\/span><\/a>, Metaplanet announced plans to issue its 12th Stock Acquisition Rights to EVO Fund, a Cayman Islands-based investment firm.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>Best New Cryptocurrencies to Invest in 2024<\/span><\/a><\/strong><\/p>\n

The Offering to Involve 29,000 Units<\/span><\/h2>\n

The offering, structured as a third-party allotment, will involve 29,000 units. \u201cThe majority of the funds raised this time will be strategically allocated for the purchase of additional Bitcoin,\u201d the company stated.<\/span><\/p>\n

Metaplanet emphasized its intent to leverage <\/span>both<\/span> debt and periodic stock issuance to systematically grow its Bitcoin holdings while minimizing exposure to the weakening Japanese yen. <\/span><\/p>\n

Bitcoin\u2019s recent performance appears to bolster this strategy, with the cryptocurrency reaching an all-time high of $99,645.39 on November 22. Simultaneously, the yen\u2019s value has continued to slide, with the USD\/JPY exchange rate hitting 154.<\/span><\/p>\n

JUST IN: Japanese Publicly traded Company Metaplanet to raise up to $62 million to purchase more Bitcoin. pic.twitter.com\/XAvFDLAgWh<\/a><\/p>\n

\u2014 Maria Hamilton (@Mil_21m) November 28, 2024<\/a><\/p>\n\n

\u201cGiven these circumstances, we recognize the urgent importance of increasing our Bitcoin holdings and have therefore decided to proceed with this fundraising initiative,\u201d the company noted. <\/span><\/p>\n

If approved under Japan\u2019s Financial Instruments and Exchange Act, the stock acquisition will run from December 16, 2024, to June 16, 2025. <\/span>At the<\/span> current Bitcoin price of approximately $95,000, the raised funds could facilitate the purchase of around 652 BTC.<\/span><\/p>\n

This isn\u2019t Metaplanet\u2019s first foray into Bitcoin acquisitions. In October, the firm raised $66 million (10 billion Japanese yen) through its 11th Stock Acquisition Rights, also allocated to Bitcoin purchases. <\/span><\/p>\n

Since first flagging its Bitcoin strategy in April, Metaplanet\u2019s stock price has surged 1,365.63% over the past year, trading at approximately $15.60 (2,345 yen). However, the stock remains far below its 2013 peak of $2,521.76 (379,000 yen).<\/span><\/p>\n

Metaplanet\u2019s decision to prioritize Bitcoin has come at the expense of its metaverse-related ventures, which it has put on hold due to a lack of profitability. <\/span><\/p>\n

\u201cWe have decided to incorporate the purchase and holding of Bitcoin as part of our <\/span>stated<\/span> corporate treasury strategy,\u201d the firm stated.<\/span><\/p>\n

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More Companies Invest in Bitcoin<\/span><\/h2>\n

Other companies are also turning to Bitcoin to diversify their treasuries. Video platform Rumble <\/span>announced plans to invest in Bitcoin<\/span><\/a> on November 25, while Genius Group recently acquired 110 BTC for $10 million, aiming to hold up to 90% of its reserves in Bitcoin. <\/span><\/p>\n

Furthermore, healthcare technology firm Semler Scientific<\/span> has expanded its Bitcoin portfolio<\/span><\/a>. It purchased an additional 47 BTC for $3 million. The acquisition brings the company\u2019s total holdings to 1,058 BTC as part of its ongoing strategy to accumulate Bitcoin.<\/span><\/p>\n

The company has positioned Bitcoin as its primary treasury asset. It purchased 141 BTC for $8.4 million in the third quarter alone. Semler\u2019s strategy mirrors that of MicroStrategy, which holds 252,220 BTC, making it the largest public corporate holder of Bitcoin.<\/span><\/p>\n

EXPLORE:<\/span> The 18 Best New Cryptocurrencies to Invest in 2024<\/span><\/a><\/strong><\/p>\n

The post Metaplanet Aims To Raise $62M To Expand $109M Bitcoin Treasury<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Japanese investment firm Metaplanet is looking to bolster its Bitcoin reserves by raising over $62 million (9.5 billion Japanese yen) through a stock acquisition initiative. The firm\u2019s current Bitcoin treasury stands at 1,142 BTC, valued at more than $109 million. In a statement issued on 28 November 2024, Metaplanet announced plans to issue its 12th […]<\/p>\n","protected":false},"author":0,"featured_media":24478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24477"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24477"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24478"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}