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.

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