Metaplanet Successfully Concludes 10 Billion Stock Rights Offering to Acquire Bitcoin
Tokyo-based hotel asset management company, Metaplanet Inc., has successfully raised ¥10 billion ($66.2 million) through its 11th stock acquisition rights exercise. The funds will be used to expand the company’s Bitcoin holdings. A total of 13,774 shareholders participated in the exercise, resulting in a 72.8% exercise rate. Notable participants include BlackRock, the world’s largest asset manager with $11 trillion in assets under management. The remaining unexercised rights will be transferred to EVO FUND for final allocation. Metaplanet currently holds 861.387 BTC, acquired at an average price of ¥9,313,428 per Bitcoin. The company’s most recent purchase was 107 BTC on October 15, 2024. Since April 2024, Metaplanet has been implementing a systematic Bitcoin acquisition strategy, similar to that of MicroStrategy Inc. The successful stock sale reflects growing institutional interest in companies with significant Bitcoin exposure. The newly raised capital positions Metaplanet to potentially double its current Bitcoin holdings. The company plans to continue its measured approach to Bitcoin acquisition, with regular purchases rather than large single investments. Metaplanet’s Bitcoin investments have generated profits since the beginning of its accumulation strategy earlier this year. The company’s stock sale was structured to allow existing shareholders to participate in its expansion plans, and the high participation rate indicates strong shareholder confidence in Metaplanet’s Bitcoin-focused strategy. The company is committed to maintaining transparency in its cryptocurrency operations, with each Bitcoin purchase carefully documented and disclosed to shareholders. The favorable market conditions, including Bitcoin’s recent price movements and increased institutional adoption, have created an opportune environment for Metaplanet’s expansion plans.
