Metaplanet is planning to issue up to 555 million new shares and direct a significant portion of the raised funds toward increasing its Bitcoin reserves.
Metaplanet's Bitcoin Strategy
According to a Wednesday filing, Metaplanet will allocate approximately $835 million to expand its Bitcoin reserves, currently standing at 18,991 BTC worth about $2.1 billion. The management views this strategy as a hedge against Japan's weakening yen and inflation, as well as a means to enhance long-term corporate value.
Goals and Market Recognition
Metaplanet aims to increase its Bitcoin holdings to over 210,000 BTC by 2027 under its "21 Million Plan." Previous initiatives, such as the "555 Million Plan," have already highlighted the company's ambitious approach to Bitcoin accumulation. Additionally, Metaplanet has been promoted to the FTSE Japan Index, indicating its growth from small-cap to mid-cap status.
Financial Details and New Shares
The forthcoming share issuance will increase the company’s total shares from 722 million to roughly 1.27 billion. Pricing is set to be finalized between September 9 and 11, with settlement shortly thereafter. CEO Simon Gerovich confirmed the plans but declined further comment due to legal restrictions.
By positioning itself as one of the prominent corporate players in the digital asset market through its Bitcoin strategy, Metaplanet is reinforcing its standing and aiming for further growth.
