Metaplanet—a Japanese investment firm focused on accumulating Bitcoin—announced plans to raise ¥9.5 billion (around $62 million), to grow its holdings of the cryptocurrency.
The company announced its 12th stock issuance in a Nov. 28 notice . Metaplanet will issue the 29,000 stock acquisition rights for 100 shares each to Cayman Islands investment management firm EVO Fund.
“The majority of the funds raised this time will be strategically allocated for the purchase of additional Bitcoin,” the notice reads. “We have made it clear that we intend to utilize debt and periodic stock issuance to systematically increase our Bitcoin holdings while reducing exposure to a depreciating yen.”
Metaplanet further highlighted that Bitcoin’s “prominence continues to grow” after it
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Author: Adrian Zmudzinski
