Metaplanet has completed an international share offering, raising $1.4 billion with a significant portion of the funds designated for Bitcoin accumulation. These actions highlight changing perceptions of cryptocurrency in corporate finance.
Historic Capital Raise for Digital Assets
Metaplanet increased its share offering from 180 million to 385 million shares priced at ¥553 ($3.75) each, totaling approximately ¥205 billion. In September and October, around 90% of the revenues, or about $1.25 billion, will be used to acquire Bitcoin.
Strategic Pivot to Cryptocurrency
Metaplanet, previously known as a hotel operator, has shifted its focus to cryptocurrency. This decision is a response to macroeconomic factors and low interest rates in Japan that have undermined confidence in traditional reserves. Companies are looking to Bitcoin accumulation as a hedge against inflation.
Metaplanet's Long-Term Bitcoin Accumulation Goals
Metaplanet plans to acquire 210,000 BTC in the long term, which corresponds to approximately one percent of Bitcoin’s total circulating supply. If achieved, the company will become one of the largest public holders of digital assets.
Metaplanet's $1.4 billion fundraising reflects significant shifts in corporate cryptocurrency use. With growing interest in Bitcoin, Japan may become an important player in this market.
