{"id":251670,"date":"2024-08-06T15:09:00","date_gmt":"2024-08-06T15:09:00","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/06\/metaplanet-to-raise-70-million-to-buy-more-bitcoin\/"},"modified":"2025-06-25T17:13:03","modified_gmt":"2025-06-25T17:13:03","slug":"metaplanet-to-raise-70-million-to-buy-more-bitcoin","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/06\/metaplanet-to-raise-70-million-to-buy-more-bitcoin\/","title":{"rendered":"Metaplanet To Raise $70 Million To Buy More Bitcoin"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjA2MDA5NzgxOTI2NzY1OTUx\/japan.jpg\" \/><\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/metaplanet\">Metaplanet<\/a>, a publicly listed Japanese company, has <a href=\"https:\/\/contents.xj-storage.jp\/xcontents\/33500\/75578459\/4d70\/444f\/8f5b\/87ba4dd41348\/140120240806563226.pdf\">announced<\/a> plans to raise up to \u00a510.08 billion ($70 million) through a gratis allotment of stock acquisition rights to existing shareholders. The majority of funds raised will be used to purchase additional Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: \ud83c\uddef\ud83c\uddf5 Metaplanet announces to raise \u00a510.08 billion to buy more <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/HXBf7RNeMx\">pic.twitter.com\/HXBf7RNeMx<\/a><\/p>\n<p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1820796403196563803?ref_src=twsrc%5Etfw\">August 6, 2024<\/a><\/p><\/blockquote>\n<p>The company <a href=\"https:\/\/contents.xj-storage.jp\/xcontents\/33500\/75578459\/4d70\/444f\/8f5b\/87ba4dd41348\/140120240806563226.pdf\">will issue one stock acquisition right<\/a> per common share to shareholders of record on September 5. These rights will allow shareholders to acquire Metaplanet common stock at an exercise price of 555 yen (~$4) during the exercise period from September 6 to October 15.<\/p>\n<p>Metaplanet currently holds around 246 bitcoins worth ~$13.4 million. By raising $70 million, the company aims to significantly expand its Bitcoin treasury as part of its long-term growth strategy.<\/p>\n<p>This move mirrors the approach pioneered by <a href=\"https:\/\/bitcoinmagazine.com\/tags\/microstrategy\">MicroStrategy<\/a>, the Nasdaq-listed business intelligence firm. Since 2020, MicroStrategy has raised debt and sold shares to accumulate over 220,000 Bitcoin, now worth billions.\u00a0<\/p>\n<p>By positioning itself as Japan&#8217;s leading publicly traded bitcoin holding company, Metaplanet hopes to follow MicroStrategy&#8217;s playbook and create similar shareholder value. It aims to pioneer Japanese listed firms in adopting Bitcoin as a reserve asset.<\/p>\n<p>Bitcoin offers twin benefits as an asset with long-term appreciation potential that also hedges against fiat currency depreciation. Building a Bitcoin treasury strengthens the company&#8217;s balance sheet and supports future growth initiatives.<\/p>\n<p><em>Disclaimer: Bitcoin Magazine is wholly owned by BTC Inc., which also operates <\/em><a href=\"https:\/\/www.utxo.management\/portfolio\/\"><em>UTXO Management<\/em><\/a><em>, a regulated capital allocator focused on the digital assets industry and invested in Metaplanet. UTXO invests in a variety of Bitcoin businesses, and maintains significant holdings in digital assets.\u00a0<\/em><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/bitcoinmagazine.com\/business\/metaplanet-to-raise-70-million-to-buy-more-bitcoin\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Metaplanet, a publicly listed Japanese company, has announced plans to raise up to \u00a510.08 billion ($70 million) through a gratis allotment of stock acquisition<\/p>\n","protected":false},"author":1,"featured_media":251671,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/251670"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=251670"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/251670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/251671"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=251670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=251670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=251670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}