Metaplanet will raise 62 million USD to buy more Bitcoin

Metaplanet has announced a plan to raise 62 million USD through the issuance of stock purchase warrants, primarily aimed at buying more Bitcoin. The funds raised will be used to expand the company's Bitcoin reserves, mitigating risks from the depreciation of the Japanese yen. Specifically, Metaplanet plans to issue 29,000 stock purchase warrants to the EVO Fund, with the process starting from December 16, 2024, to June 16, 2025.

Each stock purchase warrant allows the EVO Fund to purchase 100 common shares, reflecting Metaplanet's strategy of focusing on holding Bitcoin and improving the Bitcoin-to-equity ratio. In the past, the company has implemented other issuance rounds to accumulate Bitcoin, with a current holding of 1,142 BTC, yielding significant returns since the time of investment.

This pivot shows Metaplanet's Bitcoin-first strategy amid the rapidly evolving cryptocurrency market.