The post Metaplanet’s crypto fundraising plan: Targets 652 Bitcoin purchase appeared on BitcoinEthereumNews.com.

Metaplanet plans to raise ¥62 million for Bitcoin acquisitions through its 12th SAR issuance. Metaplanet launched Bitcoin Magazine Japan, expanding its influence in the Bitcoin ecosystem. Metaplanet, a Japanese investment firm, plans to raise ¥62 million through its 12th series of Stock Acquisition Rights (SARs). The company will issue 29,000 units of SARs to EVO FUND, a Cayman Islands-based investment management firm, via a third-party allotment. Each SAR unit grants EVO FUND the right to purchase 100 common shares at ¥614 per right, totaling ¥17.8 million. This move is part of Metaplanet’s strategy to bolster its financial standing. EVO FUND is set to exercise the rights on the 16th of December. Metaplanet’s crypto fundraising plan Remarking on the same, Metaplanet noted,  “The majority of the funds raised this time will be strategically allocated for the purchase of additional Bitcoin.” The company further stated that, We have made it clear that we intend to utilize debt and periodic stock issuance to systematically increase our Bitcoin holdings while reducing exposure to a depreciating yen.” The company also highlighted that Bitcoin’s “prominence is on the rise,” following its all-time high of $99,645.39 on the 22nd of November. “Meanwhile, the Japanese yen continues to depreciate, with the USD/JPY exchange rate returning to the 154 level on the same day, presenting ongoing concerns.” Subject to approval under Japan’s Financial Instruments and Exchange Act, Metaplanet’s stock acquisition rights will be valid from the 16th of December 2024 to the 6th of June 2025. What’s more? If the full ¥62 million is raised through the issuance, the funds could be used to purchase approximately 652 Bitcoin [BTC]. This potential Bitcoin investment highlights Metaplanet’s strategic focus on expanding its financial portfolio and exploring digital assets as part of its growth strategy. In the past month, Metaplanet has made…

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Filed under: News - @ November 29, 2024 4:23 pm