A company that is changing the way the world mines bitcoin

coinpedia 2025-01-06 09:30:30

Metaplanet Bitcoin Holdings Soar with ¥9.5 Billion Raise, Aiming for 10k BTC by 2025

The post Metaplanet Bitcoin Holdings Soar with ¥9.5 Billion Raise, Aiming for 10k BTC by 2025 appeared first on Coinpedia Fintech News Metaplanet Inc. (Tokyo: 3350), a leading Bitcoin (BTC) oriented company, has announced the completion of the 12th series stock acquisition right on Monday, January 6, 2025. The company issued the stocks through EVO FUND, with 29k units fully exercised, representing 2.9 million new shares. As a result, the company raised ¥9.5 billion, whereby ¥4.5 billion was raised under the 4th series and ¥5 billion under the 5th series. The company saw its outstanding shares surge to 62.9 million, which represented an 8 percent dilution to the existing stock market. *EVO Fund Fully Exercises Moving Strike Warrants, Metaplanet Completes ¥9.5B Financing Plan* pic.twitter.com/ggnephyu3f — Metaplanet Inc. (@Metaplanet_JP) January 6, 2025 Metaplanet and Bitcoin Strategy Metaplanet has purchased around 1,762 BTCs since the adoption of the Bitcoin strategy in April 2024. The company has been utilizing the global capital markets since the listing of its stock market on OTCQX late last year. Additionally, Metaplanet has been using the cash flow from the core business operations including hotel management and developing Bitcoin native business to strengthen its BTC strategy. In 2025, the company intends to scale its Bitcoin holding to 10k according to the CEO Simon Gerovich. Impact on BTC Market The success of Metaplanet’s Bitcoin strategy, which is similar to that of MicroStrategy Inc. (NASDAQ: MSTR), has influenced other global companies to follow in the same footsteps. Consequently, the supply of available Bitcoins for sale on centralized exchanges and over-the-counter (OTC) platforms has continued to gradually decline. In the past week, more than 35.4k Bitcoins have been withdrawn from centralized exchanges, despite the poor performance of the US spot BTC ETFs in the first week of 2025. As whale investors continue to accumulate more Bitcoins, the underlying value has continued to rebound from the recent correction. In the last 24 hours, Bitcoin price surged around 2 percent to reach above $99.5k earlier on Monday.