Metaplanet Doubles Down on Bitcoin, Raises $20M in Equity Capital

Giving a tough fight to Strategy, Metaplanet, a Japanese company that trades on the stock market, has been investing heavily in Bitcoin.

Japanese stock market company Metaplanet has been making headlines with its substantial Bitcoin (BTC) purchases. Now owning 2,100 BTC, which comprises roughly 0.01% of the total Bitcoin supply, the company recently acquired an additional 68.59 BTC at an average price of $96,335 per BTC, totaling $6.6 million. These continuous purchases highlight Metaplanet's dedication to integrating Bitcoin into its business strategy and financial roadmap. Notably, the company aims to reach 10,000 BTC by 2025.

Moreover, Metaplanet has raised approximately $20 million in equity capital at the market during the first two trading days of its “21m Plan,” which aims to bolster its BTC strategy.

Capital Expansion & Stock Split

In a bid to support its Bitcoin accumulation, Metaplanet has been actively raising capital. According to analyst Dylan Le Clair, the company secured $20 million in equity capital within the first two days of its “21 million plan.” Furthermore, Metaplanet announced a 10-1 stock split, effective April 1. This decision comes after a reverse 1-for-10 split just eight months ago. The stock split is intended to enhance stock affordability and accessibility for investors, following a remarkable 1,370% surge in share price since the announcement of the reverse split.

CEO’s Commitment to BTC

"We fully committed to $BTC again today, buying 68.59 more BTC for the company at $6.6 million,” shared Metaplanet CEO, Simon Gerovich on X, adding that they're in it for the transparency, stability, and value it brings to investors. Also, Metaplanet now has the largest presence (6.27%) in the CoinShares Blockchain Global Equity Index, which tracks top blockchain companies.

Company's Market Expansion

Meanwhile, Metaplanet utilized a large portion of its 13th series of stock acquisition rights to strengthen its market position. Between February 18 and 19, it exercised 5,000 rights, which is 11.9% of the total, resulting in 500,000 new shares. There are still 37,000 rights left unused. This step is part of the company’s plan to raise more funds for buying more BTC and supporting long-term growth. The exercise price was adjusted based on market conditions to keep financial stability.

Market Performance

On the market front, Metaplanet continues to perform well, currently trading at 6,260 JPY. With its ongoing investment in Bitcoin and strategic financial decisions, the company is solidifying its presence in the Bitcoin-driven corporate landscape as investors keep a close eye on how this bold approach will shape the company's future.

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Metaplanet holds 2,100 BTC, about 0.01% of Bitcoin’s total supply, with plans to acquire more through strategic investments.