Japanese-listed Metaplanet is raising more capital to bolster its Bitcoin Treasury

Source Cryptopolitan

Japanese-listed Metaplanet on Wednesday announced that it is raising 213 billion yen, approximately $1.4 billion, through new share offerings to boost its Bitcoin treasury.

The capital raise, according to a statement, will be through an overseas issuance of new shares. This comes as the company is looking at using cryptocurrency as its primary treasury asset to offset domestic economic challenges.

Metaplanet makes another aggressive move to buy BTC

The Tokyo-based firm, which is listed on the Standard Market of the Tokyo Stock Exchange, planned on issuing a total of 385 million new shares at a price of 553 yen per share, representing a 9.93% discount from the closing price on September 9.

Payment date for the new shares is pegged at September 16, and the delivery date the following day, on September 17. The company expects its outstanding shares to grow from approximately 756 million to more than 1.4 billion after the capital increase.

 

Metaplanet may be on track to meet its targets within set timelines

Metaplanet stated that its strategy to acquire more Bitcoin is a response to Japan’s mounting economic challenges that include a weakening of the yen, high government debt, and prolonged negative interest rates.

As recently reported by Cryptopolitan, MetaPlanet added 136 BTC worth 2.25 billion yen as part of its continued Bitcoin Treasury initiative. Its total Bitcoin holdings are now worth 304.563 billion yen, or $2.08 billion.

The purchases build on the company’s plans to grow its digital asset stash to 100,000 BTC by the end of next year. Meta Planet’s current holding of 20,136 BTC indicates that it has achieved about 67% of its 2025 target and 20% of its 2026 target.

MetaPlanet is also looking at acquiring 210,000 BTC by 2027 in a move that would account for 10% of the total Bitcoin in circulation.

With the latest developments, MetaPlanet could be on track to meet its ambitious targets by the end of next year and 2027. And its 20,136 BTC holdings place it in sixth position globally among public firms with Bitcoin Treasury strategies.

The smartest crypto minds already read our newsletter. Want in? Join them.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Finding The Best Japan Stocks to Buy? These are Top Japanese Companies to Watch Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
Author  Mitrade
May 29, Fri
Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
placeholder
Bitcoin loses $73,000 as US-Iran escalation, ETF outflows deepen crypto market sell-offThe broader cryptocurrency market is down $2.45 trillion on Thursday, from $2.54 trillion the previous day, led by Bitcoin’s (BTC) decline below $73,000.
Author  FXStreet
May 28, Thu
The broader cryptocurrency market is down $2.45 trillion on Thursday, from $2.54 trillion the previous day, led by Bitcoin’s (BTC) decline below $73,000.
placeholder
Bitcoin Price Forecast: BTC risks losing $70,000 as AI and chip rally steal the spotlightBitcoin (BTC) edges below $73,000 at press time on Monday, extending its decline under the prevailing downside pressure from three consecutive weeks of losses.
Author  FXStreet
Jun 01, Mon
Bitcoin (BTC) edges below $73,000 at press time on Monday, extending its decline under the prevailing downside pressure from three consecutive weeks of losses.
placeholder
WTI rises to near $93.00 as Iran launches missiles toward Kuwait, BahrainWest Texas Intermediate (WTI) gains ground for the third successive day, trading around $92.90 per barrel during the Asian hours on Wednesday.
Author  FXStreet
Yesterday 01: 24
West Texas Intermediate (WTI) gains ground for the third successive day, trading around $92.90 per barrel during the Asian hours on Wednesday.
placeholder
Forex Today: US Dollar stays resilient ahead of key US dataHere is what you need to know on Wednesday, June 3:
Author  FXStreet
16 hours ago
Here is what you need to know on Wednesday, June 3:
goTop
quote