3 hours ago
Metaplanet (3350), the largest Japanese bitcoin (BTC) treasury company, plans to rise a nett 204.1 cardinal yen ($1.4 billion) successful an planetary stock merchantability to bolster its holdings of the largest cryptocurrency.
The Tokyo-based company, which already owns 20,136 BTC and has the sixth-largest stash among publically traded companies worldwide, said it priced the 385 cardinal caller shares astatine 553 yen each. Its banal surged 16% to 714 yen connected Wednesday connected grounds trading volume.
Nakamoto Holdings (NAKA), a bitcoin treasury institution founded by David Bailey, a crypto advisor to President Donald Trump, said successful a abstracted announcement that it committed bargain $30 million of the caller shares. NAKA shares soared 77% connected Tuesday.
Metaplanet said it volition allocate 183.7 cardinal yen of the proceeds toward bitcoin purchases successful September and October. Another 20.4 cardinal yen volition spell into its bitcoin income procreation business.
When the sale, announced successful August, is implicit the fig of Metaplanet’s outstanding shares volition emergence to much than 1.14 billion.
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