Metaplanet Raises ¥10B From 13.7K Investors to Expand Bitcoin (BTC) Holdings

A Japanese company known as Metaplanet finished its 11th stock acquisition rights offering, raising ¥ $10 billion. More than 13,700 individual and corporate investors

Metaplanet, a Japanese company, has completed its 11th stock acquisition rights offering, raising ¥ $10 billion. The funds were secured from over 13,700 individual and corporate investors, who made $250,000 in total over two months. The company will use this capital to expand its Bitcoin (BTC) holdings.

The stock offering, which was first announced in August 2024, had a 72.8% exercise rate, indicating Metaplanet's commitment to expanding its cryptocurrency portfolio with the funds raised.

The company has adopted an aggressive strategy to position itself as a major player in the Bitcoin market.

Metaplanet Follows MicroStrategy's BTC Treasury Path

Global asset manager BlackRock participated in the round, highlighting the strong interest from institutional investors in the stock offering. This also adds further credibility to Metaplanet's strategy, considering that BlackRock was another backer with assets under management (AUM) of $11 trillion.

The remaining stock rights that were not exercised were transferred to EVO FUND, on the commitment to exercise them by October 22.

The involvement of these large institutional investors serves to endorse Metaplanet's long-term strategy, which will help ensure that the company can continue to acquire Bitcoin as part of its growth plan and reflects Metaplanet's ambition to become the largest corporate holder of Bitcoin in Asia.

In a similar vein, Metaplanet is following in the footsteps of MicroStrategy and other companies that have added BTC to their corporate treasuries.

By accumulating Bitcoin, Metaplanet aims to hedge against economic uncertainties and the risks of inflation, and company leaders are optimistic that the strategy will generate strong returns in the long run.

Metaplanet Grows Bitcoin Holdings to 861 BTC

Since commencing its Bitcoin acquisitions in May 2024, Metaplanet has rapidly increased its holdings, which now stand at 861 BTC. The company's latest purchase, announced in mid-October, adds 107 BTC and pushes it further up the list of top three Bitcoin holders in the Asia Pacific region. This is largely due to the company's focus on cryptocurrency as a long-term asset.

Despite Bitcoin's price movements and the recent decline, Metaplanet has no plans to halt its acquisition strategy. With Bitcoin prices showing a slight decrease, the company sees an opportunity to acquire more at better prices.

This aligns with Metaplanet's goal to prevent its BTC reserves from being diluted in the volatile cryptocurrency market and to build a substantial reserve.

As the leading digital asset company in the region, Metaplanet's accumulation of Bitcoin positions it among the leaders in the space. According to the company, its expanding presence in the market stands to benefit from the increasing global appetite for Bitcoin as a store of value. Metaplanet now holds around ¥ 8 billion in Bitcoin as of October 2024, marking a significant milestone in the firm's crypto economics.

Strong Investor Support Fuels Bitcoin Acquisition Plans

Investors showed their support for Metaplanet's plans as the stock acquisition rights offering concluded strongly. One would expect that a company's strategy of accepting Bitcoin, which is even enshrined in its values, would garner broad support and lead to fair representation within the boardroom.

Metaplanet's vision to leverage Bitcoin to address economic challenges and drive financial innovation continues to attract investors.

The company's CEO, Simon Gerovich, expressed gratitude to the shareholders who sold portions of the company's stock, saying, “With this offering, we will raise capital to pursue the company's long-term mission of becoming an active, leading Bitcoin treasury company.”

Backed by both institutional and individual investors, Metaplanet is well-positioned to continue its aggressive Bitcoin acquisition strategy.