Metaplanet, a Japanese investment firm, announced plans to raise approximately $62 million (10 billion yen) by issuing free stock purchase rights to existing shareholders. A significant portion of this amount, about $59 million (8.5 billion yen), will be used to purchase additional Bitcoin to bolster the company’s digital asset reserves.
Metaplanet’s Bitcoin Accumulation Strategy
Since April 2024, Metaplanet has been consistently buying Bitcoin, with current holdings totaling 1,142.2 BTC, valued at approximately $104.8 million. Recently, the company acquired an additional 124.1 BTC at an average price of around $91,266 per Bitcoin, amounting to $11.3 million.
Impact on Metaplanet’s Stock Price
Metaplanet’s investment strategy in Bitcoin has significantly benefited the company. Its stock rose 15.1% following the announcement of the additional Bitcoin purchase, closing at 2,295 yen ($15.22). Year-to-date, Metaplanet shares have surged by 1,334%, outperforming market indices like the Nikkei 225.
Comparison with Other Companies
Metaplanet is now the largest Bitcoin holder in Asia, surpassing Hong Kong’s Meitu Inc., which holds 940.9 BTC. Globally, Michael Saylor’s MicroStrategy remains the leader, with 252,220 BTC.
Conclusion
Metaplanet’s decision to raise $62 million to acquire more Bitcoin underscores the company’s strong belief in the long-term potential of the cryptocurrency. This strategy not only strengthens Metaplanet’s digital asset reserves but also delivers significant benefits to shareholders through rising stock prices.