AJapanesecompanyknownasMetaplanetfinishedits11thstockacquisitionrightsoffering,raising¥$10billion.Morethan13,700individualandcorporateinvestorsmade$250,000injusttwomonthstosecurethefunds.ThecompanywillusethiscapitaltoexpanditsBitcoin(BTC)holdings.
Thestockoffering,firstraisedinAugust2024,hada72.8%exerciserate.ThisshowsthatMetaplanetiswillingtoexpanditscryptocurrencyportfoliobyraisingthesefunds.
ThecompanyhasadoptedanaggressivestrategytopositionitselfasthebiggestplayerintheBitcoinmarket.
MetaplanetFollowsMicroStrategy’sBTC’sTreasuryPath
GlobalassetmanagerBlackRockparticipatedintheround,showinginstitutionalinvestorsastronginterestinthestockoffering.ThisalsobroughtfurthercredibilitytoMetaplanet’sstrategy,asBlackRockwasanotherbackerwithassetsundermanagementof$11trillion.
TheremainingstockrightsnotexercisedweretransferredtoEVOFUNDonthecommitmenttoexercisethembyOctober22.
TheinvolvementofthesesignificantinstitutionalinvestorsendorsesMetaplanet’slong-termstrategy.IthelpsensureMetaplanetcankeepbuyingBitcoinaspartofitsgrowthplanandrepresentsthecompany’sambitiontobecomethelargestcorporateholderofBitcoininAsia.
Similarly,MetaplanetfollowsinthefootstepsofMicroStrategyandothercompaniesthathavetakenBTCintotheircorporatetreasury.
MetaplanetwantstohedgeagainsttheuncertaintiesoftheeconomyandrisksofinflationbyaccumulatingBitcoin.Still,companyleadersareinagoodplace,believingthatthestrategywillproducelong-runreturns.
MetaplanetGrowsBitcoinHoldingsto861BTC
SincebeginningitsBitcoinacquisitioninMay2024,Metaplanethasrapidlyincreaseditsholdings,reaching861BTC.Bymid-October,thecompany’slatestbuyadded107BTCandpusheditfurtherupinAsiaPacific’stop3Bitcoinholderslist.Thisisbecausethecompanyhasbeenfocusingoncryptocurrencyasalong-termasset.
AlthoughBitcoin’spricehasrisenandfalleninthelastfewweeks,Metaplanethasnointentionofcancelingitsacquisitionplan.WithBitcoinpricesstartingtodecreaseslightly,thecompanybelievesthereisanopportunitytoscoopupmoreatbetterprices.
That’sjusthowMetaplanetwantstobetopreventtheBTCreservefrombecomingdilutedintheturbulentcryptocurrencymarketandtobuildasubstantialreserve.
Asthetopdigitalassetcompanyintheregion,MetaplanethasamassedBitcoin,positioningitselfasoneoftheleadersinthatspace.
Accordingtothecompany,bycontinuouslyexpandingfurtherintothemarket,itbenefitsfromtheincreasingglobalappetiteforBitcoinasastoreofvalue.Metaplanetnowholdsabout¥8billioninBitcoinbyOctober2024,whichisaremarkablemilestoneforthefirm’scryptoeconomics.
StrongInvestorSupportFuelsBitcoinAcquisitionPlans
InvestorsbackedMetaplanet’splanswhenthestockacquisitionrightsofferingturnedoutstrong.Youwouldthinkthatwidespreadsupportforacompany’sstrategyofacceptingBitcoin,whichisevenenshrinedinitsvalues,wouldresultinafairrepresentationwithintheboardroom.
Metaplanet’svisiontouseBitcointotackleeconomicchallengesanddrivefinancialinnovationisattractinginvestors.
Thecompany’sCEO,SimonGerovich,expressedthankstotheshareholderswhosoldsharesofthecompany’sstock.Withthisoffering,we’llraisecapitaltopursuethecompany’slong-termmissionofbecominganactive,leadingBitcointreasurycompany.
Metaplanet,withthebackingofbothinstitutionalandindividualinvestors,isinasolidpositiontocontinueitsaggressiveBitcoinacquisitionstrategy.
thecoinrepublic.com