Japan-based investment firm Metaplanet aims to raise 9.5 billion yen ($62 million) to bolster its Bitcoin holdings through its 12th Series Moving Strike Stock Acquisition Rights, set to be allocated between December 17, 2024, and June 16, 2025. The company’s stock increased by 6.5% following the announcement, reflecting its recent success in the Japanese market.
Metaplanet’s CEO, Simon Gerovich, said the company’s financing strategy mirrors that of MicroStrategy, a leading corporate Bitcoin holder. He explained that the “at-the-market” model allows Metaplanet to raise funds for Bitcoin expansion while ensuring shareholders benefit from a higher Bitcoin-per-share ratio.
Since transitioning to a Bitcoin-focused treasury in May, Metaplanet has added 1,142 BTC to its portfolio, spending $75.3 million, with the investment growing by over 44% due to Bitcoin’s rising value. The company recently gained inclusion in the Amplify Transformational Data Sharing ETF (BLOK), which tracks 53 leading blockchain-focused companies, including MicroStrategy, Robinhood, Nvidia, and SBI Holdings.
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<p>The post Metaplanet Raises $62 Million to Strengthen Bitcoin Portfolio first appeared on CoinBuzzFeed.</p>
