Japan-based Metaplanet raised 10 billion yen in new capital through a share sale. This move means that the company will make major Bitcoin investments in the coming period. 
$68,156 It shows that it is preparing to make purchases. Following MicroStrategy’s strategy, Metaplanet aims to raise more capital to fund Bitcoin purchases. Bitcoin price is trading under pressure at $69,000 and lost 2% of its value at the end of the day.
Metaplanet saw participation from 13,774 shareholders in its 11th Share Purchase Rights series. With EVO FUND exercising all rights, the company generated revenue of 10 billion yen.
Institutional Investors Turn to BTC
Interest in Bitcoin from major investors such as BlackRock is increasing. Many institutional investors prefer exposure to Bitcoin. Companies selling shares are participating in the Bitcoinization of traditional markets. Metaplanet CEO Somin Gerovich made a statement about these developments. Gerovich stated that they approved the transfer of unused rights transferred to EVO FUND. By October 22, 2024, all transferred rights will be used and the company will have raised 10 billion yen.
Following the share sale, Metaplanet’s share price fell below 1,200 JPY, losing 5.85%. However, there has been an increase of 644% since the beginning of the year. The company has held more than 850 Bitcoins since May 2024. While the Bitcoin price fluctuates between $60,000-70,000, this is seen as an opportunity for long-term investors.
Metaplanet plans to increase its Bitcoin reserves while the Bitcoin price is below $70,000. In the process, it employs various strategies to raise cash.
Success in Options Trading
Metaplanet made more than $2 million in profits trading Bitcoin options with QCP Capital. While the Bitcoin price dropped to $67,389, the company continues its long-term investment strategies.
Overall, Metaplanet’s Bitcoin strategies and share sales strengthen the company’s position in the crypto market. Investors are eagerly awaiting the company’s future steps. These developments clearly show that institutional investors’ interest in Bitcoin is increasing. Bitcoin’s long-term potential attracts even more attention with such strategic moves.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
