Metaplanet continues to emulate MicroStrategy with planned $62M Bitcoin expansion

Tokyo-listed concern steadfast Metaplanet plans to rise 9.5 cardinal yen (approximately $62 million) to fortify its Bitcoin portfolio.

In a Nov. 28 statement, the institution revealed that the funds volition beryllium raised done its 12th Series Moving Strike Stock Acquisition Rights. These rights volition beryllium allocated to EVO FUND via third-party allotment betwixt Dec. 17, 2024, and June 16, 2025.

Following the announcement, Metaplanet’s banal surged by 6.5%, extending a year-long rally that has positioned it arsenic 1 of Japan’s astir salient publically traded companies.

Emulating MicroStrategy

Metaplanet’s CEO Simon Gerovich highlighted that the company’s financing attack mirrors that employed by MicroStrategy, a starring firm Bitcoin holder.

According to him, the “at-the-market” exemplary allows the steadfast to rise funds to grow its Bitcoin holdings portion ensuring shareholders payment from a higher Bitcoin-per-share ratio. Gerovich emphasized that this attack enables the institution to accelerate its Bitcoin acquisition complaint without importantly diluting shareholder value.

He added:

“By raising superior successful this way, we tin turn our Bitcoin holdings astatine a faster complaint than the summation successful outstanding shares, providing a wide nett payment to our shareholders.”

Since transitioning to a Bitcoin-focused treasury successful May, Metaplanet has added 1,142 BTC to its portfolio, spending $75.3 million. With Bitcoin’s worth rising, this concern has grown by implicit 44%, pushing its worthy to $108.5 million.

According to Bitcoin Treasuries data, the holdings person positioned Metaplanet arsenic one of Asia’s largest firm Bitcoin holders and 18th globally among publically traded companies.

Addition to ETFs

According to a Nov. 27 statement, Metaplanet’s increasing prominence has besides led to its inclusion successful the Amplify Transformational Data Sharing ETF (BLOK).

The money actively identifies cardinal players successful the blockchain abstraction and tracks 53 starring blockchain-focused companies, featuring notable names specified arsenic MicroStrategy, Robinhood, Nvidia, and SBI Holdings. BLOK manages implicit $930 cardinal successful assets.

Gerovich stated:

“This inclusion highlights increasing designation of our enactment arsenic Japan’s starring Bitcoin Treasury Company. BLOK holds a 4.4% involvement successful Metaplanet.”

The station Metaplanet continues to emulate MicroStrategy with planned $62M Bitcoin expansion appeared archetypal connected CryptoSlate.