Japanese investment firm Metaplanet plans to raise over $62 million to enhance its Bitcoin reserves, reflecting its strategy to use cryptocurrency for asset diversification.
Metaplanet's Investment Plan
On November 28, Metaplanet announced plans to issue the 12th Stock Acquisition Rights via a third-party offer to EVO Fund, an investment firm from the Cayman Islands. They aim to issue 29,000 units, with the majority of funds directed toward purchasing additional Bitcoin to mitigate the risks of the depreciating yen.
Bitcoin's Rise and Yen's Depreciation
Bitcoin has recently reached an all-time high, while the Japanese yen continues to weaken against the USD/JPY exchange rate. In this context, Metaplanet sees increasing Bitcoin holdings as crucial to protect its assets from inflation risks.
Other Companies Investing in Bitcoin
This year, several companies have started investing in Bitcoin. Platforms like Rumble and AI firm Genius Group have announced their plans to purchase Bitcoin as a strategic asset. Semler Scientific has increased its Bitcoin investments to 1,273 units.
Metaplanet's plans to boost its Bitcoin reserves underscore the growing trend of using cryptocurrency as a strategic financial instrument, highlighting shifts in global financial strategies.
