Metaplanet Secures $67 Million to Expand Bitcoin Holdings
Metaplanet, dubbed the "MicroStrategy of Asia," has raised 10 billion yen through a stock sale as part of its ongoing Bitcoin acquisition strategy.
The funds will be directed toward increasing its Bitcoin holdings, as the company continues to capitalize on Bitcoin’s price, which saw a 2% dip today after failing to surpass the $69,000 resistance.
Over 13,000 shareholders took part in this stock sale, and EVO FUND’s participation played a key role in generating the 10 billion yen in proceeds. With the backing of major institutional players like BlackRock, corporate interest in Bitcoin has grown, signaling a shift toward digital assets within traditional markets.
Metaplanet’s CEO, Somin Gerovich, confirmed that EVO FUND will exercise all rights by October 22, 2024, finalizing the fundraising.
READ MORE:
Cardano Expands Ecosystem with Strategic PartnershipsDespite a 5.85% drop in share price after the stock sale, Metaplanet’s stock is still up 644% for the year. The company has been steadily increasing its Bitcoin reserves, now holding over 850 BTC, all accumulated since May 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin’s metrics suggest bull market is far from overvalued
Jim Cramer, Known for His Wrong Comments, Shared His Last Opinion on Bitcoin and Cryptocurrencies
Jim Cramer, who is the butt of jokes in the cryptocurrency world with his predictions, has made new comments about Bitcoin. Here is everything he said.
A New Name Has Begun to Stand Out in Donald Trump’s Selection for SEC Chair: Decision Could Come In A Few Days – Here Are His Bitcoin and Cryptocurre
Who will be appointed as SEC Chairman, which is critical for cryptocurrencies? Here are the latest names and their views.
Grayscale Announces New 19 Altcoins Including XRP, Avalanche (AVAX) and Solana (SOL)!
Grayscale has announced that it has relaunched private investments for eligible investors across 19 altcoin trusts, including XRP, Avalanche (AVAX), Filecoin (FIL), and Litecoin (LTC).
Trending news
MoreCrypto prices
More
