Japanese company Metaplanet has announced significant fundraising efforts to expand its Bitcoin portfolio, attracting investors to its ambitious plans.
Capital Raise and Metaplanet's Plans
Metaplanet, known as 'Asia's MicroStrategy', reported raising 74.9 billion yen (USD $0.51 billion) through the issuance of 54 million shares. The capital was raised on the first day of the '555 Million Plan'.
Bitcoin Plans and Current Holdings
The company aims to raise 770.9 billion yen (USD $5.4 billion) to purchase 210,000 Bitcoins by 2027. Currently, Metaplanet holds 11,111 BTC, achieving a 306.7% return year-to-date.
Stock Market and Bitcoin Price
Metaplanet's stock dropped over 4% to 1,458 yen. Despite this, stock prices have risen 69% over the last month. Bitcoin price is fluctuating, currently trading at $106,200.
Metaplanet's ambitious Bitcoin plans and the successful launch of the '555 Million Plan' highlight the company's active interest in cryptocurrency amid market fluctuations.
