Metaplanet Inc to Issue Stock Rights and Invest Almost $60 Million in Bitcoin

Metaplanet Inc has unveiled plans to issue stock acquisition rights to all its common shareholders as part of a strategy to raise approximately 10 billion Japanese yen, or $69.13 million. Of this amount, 8.5 billion yen (about $58.76 million) will be invested in Bitcoin.

The distribution of these rights will start on September 5, with the formal allocation beginning the following day.

The company’s decision to channel a significant portion of its funds into Bitcoin is aimed at leveraging the asset’s long-term growth potential and its effectiveness as a hedge against currency devaluation.

The recent downturn in Japanese stocks, triggered by the Bank of Japan’s interest rate hike, led to a significant sell-off in cryptocurrencies, with Bitcoin and Ethereum falling sharply.

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Previously, Metaplanet invested $2.5 million in Bitcoin in July, buying 42.5 BTC. This increased their total Bitcoin holdings to 203.7 BTC, with an average acquisition price of about $62,000 per BTC. The firm first entered the Bitcoin market in April with a $6.5 million investment.

At a recent Bitcoin conference, Metaplanet’s CEO, Simon Gerovich, shared that the company was struggling before shifting its focus to Bitcoin, now viewing it as a key asset for their investment strategy.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.