Japanese investment firm Metaplanet Inc. successfully raised 10 billion yen ($66 million) through a stock acquisition rights exercise. This capital injection comes as the company’s stock price is soaring, up 6.53% in the past month and a staggering 593.75% year-to-date.
Over 13,000 Shareholders Participated
In a statement, CEO Simon Gerovich thanked shareholders for their continued support. The company revealed that 13,774 individual investors participated, buying new shares at a discounted price.
Focus on Bitcoin Investment?
While Metaplanet hasn’t officially announced how they’ll use the funds, their recent actions suggest further investment in Bitcoin. Since May, they’ve been on a Bitcoin buying spree, adopting it as a strategic treasury reserve asset.
Company’s Bitcoin Holdings
Their Bitcoin purchases include:
- June: 23.351 BTC ($1.6 million)
- June (later): 42.4 BTC ($2.4 million)
- Deal involving 57.273 coins ($3.4 million)
- October: 106.976 BTC (1 billion yen, or $6.6 million)
Current Holdings:
As of today, Metaplanet holds 861.4 BTC, valued at $57.3 million. This suggests a strong focus on Bitcoin as part of their investment strategy.