The move furthers Metaplanet’s strategy of aggressive Bitcoin accumulation, mirroring that of MicroStrategy.
The company will issue 29,000 SAR units, with each unit allowing EVO FUND to purchase 100 common shares at 614 yen per right. The total potential raise is 9.5 billion yen (US$62 million), pending regulatory approval from the Financial Instruments and Exchange Act.
Metaplanet’s fundraising is explicitly aimed at expanding its Bitcoin reserves — a strategy the company has pursued amid Japan’s weakening yen.
“We recognize the urgent importance of increasing our Bitcoin holdings,” Metaplanet stated, referencing the cryptocurrency’s recent record highs. The company currently holds 1,142 Bitcoin, valued at approximately US$109.16 million.
*Metaplanet Announces Issuance of Moving Strike Stock Acquisition Rights to Raise Up to ¥9.5 billion ($62 million) for Accelerated Bitcoin Accumulation* pic.twitter.com/bL7rs6Qkk4
— Metaplanet Inc. (@Metaplanet_JP) November 28, 2024
This latest fundraising follows the company’s previous US$66 million SAR issuance last month. Metaplanet has also recently secured an exclusive licensing deal to launch Bitcoin Magazine in Japan — further demonstrating its commitment to cryptocurrency expansion.
The strategic move signals continued institutional interest in Bitcoin as a treasury asset — with potential implications for corporate investment strategies in emerging digital asset markets.
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