Key Points
- Japanese investment firm, Metaplanet, plans to raise ¥62 million through its 12th Stock Acquisition Rights (SARs) issuance, primarily for Bitcoin acquisitions.
- The firm, known as “Asia’s MicroStrategy”, currently holds 1,142 Bitcoin and recently launched Bitcoin Magazine Japan.
Metaplanet, a Japanese investment firm, has announced its intention to raise ¥62 million through its 12th series of Stock Acquisition Rights (SARs).
The firm will issue 29,000 units of SARs to EVO FUND, an investment management firm based in the Cayman Islands, through a third-party allotment. Each SAR unit allows EVO FUND the right to purchase 100 common shares at ¥614 per right, totaling ¥17.8 million.
Metaplanet’s Crypto Fundraising Strategy
This initiative is part of Metaplanet’s strategy to strengthen its financial position. EVO FUND is expected to exercise these rights on December 16th. The majority of the funds raised will be used strategically for the purchase of additional Bitcoin.
The company has expressed its intention to use debt and periodic stock issuance to systematically increase its Bitcoin holdings while reducing exposure to a depreciating yen. Metaplanet highlighted that Bitcoin’s prominence is increasing, especially after reaching its all-time high of $99,645.39 on November 22nd.
Metaplanet’s Bitcoin Acquisition
If the full ¥62 million is raised through the issuance, the funds could be used to purchase about 652 Bitcoin. This potential Bitcoin investment emphasizes Metaplanet’s strategic focus on expanding its financial portfolio and exploring digital assets as part of its growth strategy.
Metaplanet has made significant strides in the past month, raising ¥10 billion ($66 million) through its 11th series of stock acquisition rights.
The firm, known as “Asia’s MicroStrategy,” follows an aggressive strategy of acquiring Bitcoin, similar to MicroStrategy’s approach. This includes direct purchases and options trading, which increase its Bitcoin holdings and generate additional revenue through premiums.
At present, Metaplanet holds 1,142 Bitcoin, valued at approximately $109 million. The firm’s stock has surged 1,366% over the past year. Despite this, it remains far below its peak of $2,521.76, according to Google Finance.
Metaplanet’s recent collaboration with Bitcoin Magazine to launch Bitcoin Magazine Japan marks a significant step in expanding its influence in the Bitcoin ecosystem. This aligns with the company’s aggressive approach to Bitcoin acquisition, mirroring the tactics of industry giants like MicroStrategy.
By engaging in Bitcoin purchases and strategic partnerships, Metaplanet is positioning itself as a key player in the digital asset ecosystem. The company is following successful models of Bitcoin-heavy firms while forging its path in the Asian market.