Metaplanet Co., Ltd. The board of directors of Metaplanet Co, Ltd. announced a free distribution of Series 11 stock purchase rights to all holders of common stock.
Metaplanet Co. , Ltd. The board of directors of Metaplanet Co, Ltd. announced a free distribution of Series 11 stock purchase rights to all holders of common stock.
It was decided to raise approximately $100 million worth approximately 69.13 billion yen, of which $85 million worth approximately 58.76 billion yen will be invested in #bitcoin (BTC).
common stock holders will be entitled to purchase shares on 9/5 and effective 9/6.
The company's decision to invest the majority of its capital in #MarketDownturn is based on the long-term appreciation of its assets and the ability to hedge against currency depreciation.
Recently, the Japanese stock market experienced its worst one-day decline since the Bank of Japan raised interest rates on GKOs in 1987 (Heisei 31). The move from 0% to 0.25% triggered a series of events that led to a huge selloff in cryptocurrencies, with BTC and ether (ETH) falling about 18% and 26% respectively.
the 8th, a listed investment advisory firm purchased 2.5 million BTC for 4 billion yen for a total of 42.5 BTC.
after the purchase, Metaplanet was left with 203.7BTC and bought it for an average of 1,000 million yen, or $662,000 per BTC.
the company announced its entry into BTC on March 4 and adopted the asset as a treasury asset, buying the first stake for £650 million.
On September 25, at the Bitcoin Conference in Nashville, Metaplanet and Semler Scientific executives expressed their admiration for the #MicroStrategy game tutorial on BTC.
Simon Gerowitz, CEO of Metaplanet, explained that before BTC's strategic transformation, his company began to exhibit typical traits of zombie companies.
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