Japanese investment firm Metaplanet Inc. has raised 10 billion yen ($66 million) through a stock rights offering as part of its strategy to bolster bitcoin investments.
The company disclosed on Wednesday that 13,774 shareholders participated in the 11th stock acquisition rights plan, allowing them to purchase shares at a discounted price. The subscription period ran from September 6 to October 15, with the total amount raised strengthening the firm’s financial position for future investments.
Bitcoin-Centric Investment Strategy
While the official filing did not detail specific plans for the new funds, Metaplanet has been actively increasing its bitcoin reserves since May, when it adopted bitcoin as a strategic treasury reserve asset. Earlier this month, the company purchased an additional 106.976 BTC valued at around 1 billion yen ($6.6 million), bringing its total holdings to 855.478 BTC, equivalent to $57.4 million at current market prices.
In a post on X (formerly Twitter), Metaplanet CEO Simon Gerovich expressed gratitude to shareholders, saying, “Their support strengthens Metaplanet’s mission of becoming a leading bitcoin treasury company.”
Bitcoin Derivatives Adjustment Reflects Optimism
The firm also revealed an adjustment to its bitcoin put options, raising the strike price from $62,000 to $66,000, signaling optimism about bitcoin’s future outlook.
Stock Performance and Market Context
Despite the positive developments, Metaplanet’s stock fell 6.57% to 1,110 yen on Wednesday. However, the company’s shares have surged 593.75% year-to-date and 6.53% over the past month, outpacing the Nikkei 225 index, which declined 0.8% on the same day.
Corporate Bitcoin Holdings Landscape
While Metaplanet is expanding its bitcoin investments, MicroStrategy remains the largest corporate bitcoin holder with 252,220 BTC, followed by Marathon Digital with 26,842 BTC, according to BitcoinTreasuries data.
As Metaplanet continues to strengthen its bitcoin holdings and treasury strategy, the firm aims to leverage the cryptocurrency’s long-term growth potential amid evolving market conditions.
