Metaplanet, likened to the MicroStrategy of Asia, has successfully raised 10 billion Yen (approximately $67 million) through a stock sale to drive its Bitcoin acquisition strategy. Although the company achieved success in raising Capital, its stock price fell 5.85%, dropping below 1,200 Yen, but still maintains an impressive 644% increase YTD.
The Japanese company has completed its 11th round of stock warrants, with the participation of 13,774 individual shareholders. EVO FUND has fully exercised the warrants and committed to completing the remaining warrants before October 22, 2024, ensuring that Metaplanet will raise the full 10 billion Yen.
Following in the footsteps of MicroStrategy, Metaplanet is aggressively pursuing a Bitcoin acquisition strategy, and currently holds over 850 BTC, all of which were purchased since May 2024. The company has also diversified its strategy by engaging in Bitcoin options trading with QCP Capital, generating over $2 million in profits.
Currently, Bitcoin is facing selling pressure around the $69,000 level, trading down 2% at $67,389.12. Metaplanet aims to continue increasing its Bitcoin holdings as long as the price remains below $70,000. Just in early October, the company purchased a total of 4 billion Yen worth of Bitcoin.
