Japanese Investment Firm Metaplanet Expands Bitcoin-Centric Investment Strategy! Here Are the Details

Japanese investment firm Metaplanet Inc. has raised 10 billion yen ($66 million) through a stock rights offering as part of its strategy to support Bitcoin investments.

Metaplanet Raises $66 Million in Equity Rights Offering

The company announced on Wednesday that 13,774 shareholders have joined its 11th stock rights plan, allowing them to buy shares at a discounted price.

The subscription period ran from September 6 to October 15, and the total amount raised strengthened the firm’s financial position for future investments.

Bitcoin-Centered Investment Strategy

While specific plans for the new funds were not detailed in the official filing, 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 another 106,976 BTC worth around 1 billion yen ($6.6 million), bringing its total holdings to 855,478 BTC, equivalent to $57.4 million at current market prices.

Metaplanet CEO Simon Gerovich expressed his gratitude to shareholders in a post on X (formerly Twitter), saying, “Their support strengthens Metaplanet’s mission to be a leading Bitcoin treasury company.”

Bitcoin Derivatives Adjustment Reflects Optimism

The firm also made an adjustment to its Bitcoin put options, raising the strike price from $62,000 to $66,000 and signaling optimism about Bitcoin’s future outlook.

Despite the positive developments, Metaplanet’s shares fell 6.57% to 1,110 yen on Wednesday. However, the company’s shares are up 593.75% year-to-date and 6.53% in the past month, outperforming the Nikkei 225 index, which fell 0.8% on the same day.

As Metaplanet expands its Bitcoin investments, MicroStrategy remains the largest institutional Bitcoin holder with 252,220 BTC, followed by Marathon Digital with 26,842 BTC, according to Bitcoin Treasuries data.

As Metaplanet continues to strengthen its Bitcoin holdings and treasury strategy, the firm aims to capitalize on the cryptocurrency’s long-term growth potential amid evolving market conditions.

*This is not investment advice.