Metaplanet's $62M fundraise boosts Bitcoin holdings to 1,100+, driving a 6.5% stock rise
Metaplanet joins BLOK ETF with 4.4% stake, reinforcing its role as a Bitcoin-focused leader in Asia.
Bitcoin rally near $100K drives $76M in liquidations, amplifying Metaplanet’s aggressive crypto accumulation strategy
Metaplanet , has announced its stock rose by 6.5% following the company’s announcement of a fundraising plan of $62 million. Moreover, following the raise of funds, the Japanese company intends to acquire more Bitcoin and other cryptocurrencies. This strategy consolidates Metaplanet’s status as Asia’s first Bitcoin Treasury Company.
Metaplanet released Moving Strike Stock Acquisition Rights to offer up to ¥9.5 billion in supplementary capital. The company has disclosed that it has bought 124 Bitcoins more. This move has taken the total of the Bitcoins that Metaplanet owns to over 1,100. The company aims at enhancing the holder value through increasing the number of Bitcoins per share while not watering down the shares often.
Bitcoin Strategy Enhances Stock Performance
The focus on Bitcoin has enormously boosted the stock performance of Metaplanet. It has risen by 1300% since the beginning of the year 2024. Moreover, in the past month the stock has risen by a whopping 102% while Bitcoin at best has only risen by about 36%.
Gerovich has mentioned that CEOP and board mandated the company to be Bitcoin only and focused on long-term shareholders. He described the fundraising as an important step in accelerating Bitcoin adoption. Gerovich also highlighted Bitcoin’s role as a store of value and a driver of financial growth.
Trading activity for Metaplanet stock has intensified. Last week, daily trading volumes surpassed $174 million, overtaking major companies like Nintendo and Honda in Japan.
BLOK ETF Adds Metaplanet to Portfolio
Metaplanet announced its inclusion in the Amplify Transformational Data Sharing ETF (BLOK), which invests in blockchain-focused companies. BLOK now holds a 4.4% stake in Metaplanet, recognizing its leadership in Bitcoin and blockchain innovation.
This addition highlights growing confidence in Metaplanet’s business model and its strategic focus on cryptocurrency. The inclusion also underscores the company’s increasing importance in the global digital asset market.
Metaplanet’s announcement comes at the time the Bitcoin prices are surging, nearing $100 000 during Thanksgiving. This led to $76.15 million in liquidations of short and long positions of $50 million and $25 million respectively.
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