Metaplanet Secures $67 Million to Expand Bitcoin Holdings

Metaplanet, dubbed the "MicroStrategy of Asia," has raised 10 billion yen through a stock sale as part of its ongoing Bitcoin acquisition strategy.

The funds will be directed toward increasing its Bitcoin holdings, as the company continues to capitalize on Bitcoin’s price, which saw a 2% dip today after failing to surpass the $69,000 resistance.

Over 13,000 shareholders took part in this stock sale, and EVO FUND’s participation played a key role in generating the 10 billion yen in proceeds. With the backing of major institutional players like BlackRock, corporate interest in Bitcoin has grown, signaling a shift toward digital assets within traditional markets.

Metaplanet’s CEO, Somin Gerovich, confirmed that EVO FUND will exercise all rights by October 22, 2024, finalizing the fundraising.

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Despite a 5.85% drop in share price after the stock sale, Metaplanet’s stock is still up 644% for the year. The company has been steadily increasing its Bitcoin reserves, now holding over 850 BTC, all accumulated since May 2024.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.