Japanese investment firm Metaplanet has declared its intention to raise $62 million through stock acquisition to expand its holdings in Bitcoin.
Partnership with EVO FUND
Metaplanet announced its partnership with Cayman Island-based investment management firm EVO FUND. The plan includes issuing 29,000 SARs units at a cost of 614 Japanese Yen each.
Increasing BTC Holdings
The initiative focuses on increasing BTC exposure by utilizing debt and periodic stock issuance. Metaplanet has also secured licensing rights to launch Bitcoin Magazine in Japan, emphasizing its commitment to developing the national Bitcoin ecosystem.
Prospects and Plans
If Metaplanet succeeds in raising the full amount of $62 million, it could purchase approximately 652 additional bitcoins in December.
Metaplanet's financial initiative is part of its strategy to boost BTC holdings and reduce dependence on a depreciating yen.
