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Japanese investment firm, Metaplanet has announced a plan to raise 9.5 billion Japanese yen, worth $62 million, through a stock acquisition scheme. This move marks another step in boosting its Bitcoin portfolio. It aligns with the company’s strategic focus on reducing exposure to the depreciating Japanese yen while leveraging Bitcoin’s long-term growth potential.
The company’s Board of Directors approved the allocation of 29,000 units of its 12th Stock Acquisition Rights to EVO FUND, a Cayman Islands-based investment entity, under a third-party allotment scheme.will primarily fund the acquisition of additional Bitcoin, strengthening Metaplanet’s existing treasury of 1,142 BTC, valued at over $109 million as of November 28, 2024.
According to the company, this initiative highlighted its vision of becoming a “Bitcoin-first” treasury management entity. “We are prioritizing a Bitcoin-first, Bitcoin-only approach to treasury management. We have made it clear that we intend to utilize debt and periodic stock issuance to systematically increase our Bitcoin holdings while reducing exposure to a depreciating yen.”
Metaplanet’s strategy also considers Japan’s economic environment, with persistent yen depreciation and inflation adding urgency to its Bitcoin-focused treasury transformation. The funds are expected to be utilized between December 2024 and June 2025, with a smaller portion allocated to operational expenses.Closely following MicroStrategy’s Bitcoin-focused financial strategy, Metaplanet started its BTC acquisitions in April.
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