Metaplanet, a Japanese investment company, has announced plans to raise $62 million to increase its Bitcoin holdings. The funds will be secured by issuing stock acquisition rights to EVO Fund, allowing the company to buy more Bitcoin as part of its long-term strategy. This move highlights Metaplanet’s commitment to a "Bitcoin-first" approach, focusing on managing its treasury with the cryptocurrency while reducing reliance on the weakening yen.
Starting December 16, 2024, Metaplanet will issue 29,000 units of stock acquisition rights at 614 yen per unit, totaling 17.8 million yen. This marks the company’s 12th series of stock issuance this year, following its 11th issuance in October, which raised $66 million. A significant portion of that funding was also allocated to Bitcoin acquisitions. The company’s stock has skyrocketed over 1,000% in 2024, reflecting strong investor confidence in its strategy.
Metaplanet is not alone in boosting its Bitcoin reserves. Publicly traded companies worldwide are increasingly investing in the cryptocurrency. MicroStrategy, for instance, recently added $5.4 billion worth of Bitcoin to its treasury in its third purchase this November. The firm has spent over $16 billion on Bitcoin this year, maintaining its position as the largest institutional Bitcoin holder. Its stock price has surged 450% in 2024, putting it among the top 100 U.S. companies.
Similarly, Marathon Digital has raised $1 billion through a convertible senior notes offering, dedicating most of the funds to Bitcoin purchases. In China, SOS Limited recently bought $50 million worth of Bitcoin, leading to a 100% jump in its stock price. These actions signal growing institutional interest in Bitcoin as a store of value and hedge against inflation.
The rising price of Bitcoin further fuels optimism in the market. Despite reaching $99,000 this year, firms like Metaplanet and MicroStrategy remain bullish about its potential. Pantera Capital projects Bitcoin could climb to $740,000 by 2028, adding to the industry’s optimistic outlook.
Metaplanet’s proactive steps this year demonstrate its dedication to systematically increasing its Bitcoin holdings. The company has leveraged stock issuance and debt strategically to execute its plan, solidifying its position in the market. As public firms continue to invest heavily in Bitcoin, the trend suggests a growing belief in the cryptocurrency’s long-term value. Metaplanet’s bold approach reflects a broader institutional shift toward embracing Bitcoin as a key financial asset.
