- Metaplanet raises $62M by selling SAR units, strengthening its Bitcoin holdings.
- A 1,300% surge in Metaplanet’s stock highlights its growing Bitcoin-backed strategy.
- Metaplanet partners with Bitcoin Magazine to expand Bitcoin adoption in Japan.
Metaplanet, a Japanese investment firm which has been using unconventional ways to set up its fund and engage in Bitcoin trading, has recently acquired an additional $62 million by releasing the 12th series of Stock Acquisition Rights (SARs). The firm is looking to offload 29,000 SAR units to EVO FUND, a Cayman Islands based investment entity.
Every SAR unit gives EVO FUND the option of buying 100 shares at 614 yen. In return, Metaplanet will receive 9.5 billion yen ($62 million) if EVO FUND exercisies all the rights by December 16, 2024. This deal is however dependant on the Japanese Financial Instruments and Exchange Act which regulates certain financial transactions within the Japanese market.
Metaplanet Strengthens Bitcoin Holdings
This latest effort forms part of Metaplanet’s ongoing approach to make Bitcoin the mainstay of its financial activities. The firm has integrated Bitcoin into its treasury and has it as an instrument for managing risk exposure to the yen as well as an asset in a new financial order. Metaplanet has decided to raise its investments in Bitcoin, especially after the cryptocurrency reached $99,000, making it an even more integral part of the company’s financial strategy.
Metaplanet’s focus on Bitcoin is not new. In October 2024, the company completed its eleventh series of SARs and got 10 billion yen or $66 million to reinforce its Bitcoins. The firm has acquired a lot of Bitcoin, as the company’s treasury is now fully secured by Bitcoin. This strategic decision has been accomplished through both debt and equity financings and as a result platform has been able to significantly build its Bitcoin position.
Bitcoin Strategy Drives Market Boom
Its strong Bitcoin strategy has also influenced the company’s stocks in a favorable way. firms’s stock has massively surged since May 2024, reaching 1,300% increase in its stock price, and beating giants of Japan’s economy that include Nintendo and Honda. This boom has attracted investors and the trading volume of the company has risen to $174 million in the last week, making it one of the best performing firms in the stock market of Japan.
The platfrom is also engaged in the Bitcoin focused financial strategy along with this, it is also trying to popularize the Bitcoin in Japan. Recently the firm signed a licensing agreement with Bitcoin Magazine to offer content in the Japanese language. This partnership is even more significant given platform’s ongoing efforts towards increasing the use of Bitcoin in Japan, making it a dominant player in the Japanese cryptocurrency space.
Metaplanet is already a serious player in the world of Bitcoin due to its increasing reserve and clear plans for the future.
