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Japanese investment firm Metaplanet has decladred that it plans to raise $62 million via a stock acquisition plan. Any potential purchase will be surplus to its existing holding of 1,142 BTC, worth approximately $109 million. 
The company shared a <a href="https://contents.xj-storage.jp/xcontents/33500/d4ba3269/8834/4391/802a/0b8e31abbfcf/140120241128530884.pdf" target="_blank" rel="noreferrer noopener nofollow">statement</a> announcing that it will partner with Cayman Island based investment management firm EVO FUND and will issue 29,000 SARs units at the cost of 614 Japanese Yen.&nbsp; 
The total amount of Issuance is 17,806,000 Yen, with each group entitling EVO FUND to invest 100 common shares. According to the report, EVO FUND will be able to buy the company’s stock on the allocation date of Dec, 16.&nbsp; 
Metaplanet is also advancing towards BTC exposure with it intending to “utilize debt and periodic stock issuance” to increase Bitcoin holding and reduce exposure to a depreciating yen. The company has also captured licensing rights to launch the Bitcoin Magazine in Japan, highlighting its need to develop the nation’s Bitcoin ecosystem.&nbsp; 
Metaplanet notes that Bitcoin is rising and is surging further after meeting an all-time high of $99,645.39 on Nov. 22. The company said “It is recognizing the urgent importance of increasing the Bitcoin holdings and has therefore decided to proceed with this fundraising initiative,” pointing to Bitcoin’s recent price hikes.&nbsp; 
Reports say that If Metaplanet manages to raise a full amount of 62 million, it could purchase approximately 652 additional Bitcoin in December.&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Read: <a href="https://www.cryptotimes.io/2024/11/27/japans-remixpoint-buys-3-27m-bitcoin-to-hedge-yen/" target="_blank" rel="noreferrer noopener">Japan’s Remixpoint Buys $3.27M Bitcoin to Hedge Yen</a> 
</blockquote>

Metaplanet to Raise $62M to Purchase More Bitcoin

The Crypto Times

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