Metaplanet’s crypto fundraising plan: Targets 652 Bitcoin purchase

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  • Metaplanet plans to raise ¥62 million for Bitcoin acquisitions through its 12th SAR issuance.
  • Metaplanet launched Bitcoin Magazine Japan, expanding its influence in the Bitcoin ecosystem.

As a seasoned crypto investor with a penchant for Japanese tech startups and a keen eye for Bitcoin opportunities, I find Metaplanet’s latest moves intriguing. The company’s strategic focus on expanding its financial portfolio through digital assets is not only smart but also reflects the current market trends.

Metaplanet, a Japanese financial entity, intends to gather approximately 62 million yen by selling its 12th batch of Stock Purchase Options (SPOs), often referred to as Stock Acquisition Rights (SARs) in some contexts.

The business is going to distribute 29,000 shares of SARs (Structured Access Rights) to EVO FUND, an investment management company located in the Cayman Islands, through a third party transfer process.

As an analyst, I’m reporting that each Share Acquisition Right (SAR) unit I hold empowers me to acquire 100 common shares from EVO FUND at a price of ¥614 apiece, equating to a total potential investment of approximately ¥17.8 million.

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This action aligns with Metaplanet’s plan to strengthen its financial position, as EVO FUND prepares to utilize its rights on the 16th of December.

Metaplanet’s crypto fundraising plan

Remarking on the same, Metaplanet noted, 

A large portion of the money collected recently is planned to be used tactfully for buying more Bitcoins.

The company further stated that,

We’ve explained that we plan to borrow funds and regularly buy more Bitcoins, which will gradually boost our Bitcoin assets. Simultaneously, this strategy will help lower our reliance on the yen, which has been devaluing over time.

Additionally, they noted that Bitcoin’s significance seems to be growing, as it reached an unprecedented peak of $99,645.39 on November 22nd.

At the moment, the Japanese yen is weakening, causing the US dollar-yen exchange rate to revert back to approximately 154, which fuels persistent worries.

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Pending approval according to Japan’s Financial Instruments and Exchange Act, Metaplanet’s stock purchase options will become effective from December 16th, 2024, until June 6th, 2025.

What’s more?

Should the entire ¥62 million be collected via issuance, it’s possible that the funds might be directed towards purchasing around 652 Bitcoins [BTC].

Investing in Bitcoin underscores Metaplanet’s intent to broaden its financial holdings and delve into the realm of digital assets, aligning with its approach for business expansion.

Over the last four weeks, Metaplanet has experienced substantial progress. They’ve concluded their 11th round of Stock Acquisition Rights, generating approximately ¥10 billion or equivalent to $66 million.

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Much like MicroStrategy is recognized for its bold strategy of accumulating Bitcoin, Metaplanet adopts a comparable aggressive tactic in amassing Bitcoin.

This encompasses both immediate buys of Bitcoin and transactions involving options, which serve to increase their Bitcoin reserves and create extra income by collecting premiums.

Metaplanet’s recent trend

Currently, Metaplanet holds 1,142 Bitcoin, valued at approximately $109 million.

Over the last year, the company’s shares have skyrocketed by a staggering 1,366%. Yet, they are still significantly lower than their previous high of $2,521.76, as indicated by data from Google Finance.

Metaplanet’s latest action of taking over Bitcoin Magazine Japan, working alongside Bitcoin Magazine, signifies a crucial advancement in increasing their impact within the Bitcoin community.

This partnership supports our assertive strategy when it comes to purchasing Bitcoins, similar to the methods used by leading companies such as MicroStrategy in the industry.

Through Bitcoin transactions and strategic collaborations, Metaplanet is carving out a significant role within the digital assets sector. The business mirrors the success strategies of established Bitcoin-centric companies while pioneering its own way in the Asian marketplace.

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2024-11-29 18:16