Japan’s investment firm Metaplanet has completed its 11th Stock Acquisition Rights exercise period with a solid 72.8% participation rate. CEO Simon Gerovich announced on X that 13,774 individual shareholders participated in the exercise, underscoring strong support for the company. Gerovich added that unexercised rights will now be transferred to EVO FUND, which will exercise these rights, raising Metaplanet’s total funding to 10 billion yen.
Expressing gratitude, Gerovich thanked shareholders for their contributions, highlighting that their support reinforces Metaplanet’s mission to become a leading Bitcoin treasury company. Metaplanet will announce the final results of the stock acquisition once EVO FUND completes its transaction.
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Metaplanet’s Aggressive Bitcoin Strategy
Metaplanet has gained recognition as “Asia’s MicroStrategy” due to its strategic focus on acquiring Bitcoin. The company currently holds 861.387 Bitcoin, purchased at an average price of 9,313,428 yen (approximately $61,752). At the current Bitcoin price, Metaplanet’s holdings are valued at approximately 8 billion yen ($53 million). With the recent completion of its 11th stock acquisition rights exercise, the firm is poised to double its Bitcoin holdings.
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The latest Bitcoin purchase saw Metaplanet acquire 107 additional coins for $62,520 per coin. This increased the overall cost of the transaction to 1 billion yen ($6.7 million). Notably, Bitcoin is trading at $67,515, down 2.31% over the last 24 hours. However, Bitcoin has increased by 3% in the previous week and 7% in the last month, indicating that the market is still strong.
Metaplanet’s stock reaction has been positive due to its aggressive Bitcoin tactics. In September, the company’s stock experienced a rise in value by 443.2%, which translates to an improvement in investors’ confidence in pursuing the company’s shares as Metaplanet established its Bitcoin investments.
Conclusion
Metaplanet’s successful stock acquisition rights exercise and ongoing Bitcoin purchases underscore the firm’s growing influence in cryptocurrency. The company is well-positioned for further growth with strong shareholder support and rising stock value.
Also Read: Bitcoin Surges Past $65,000, Approaching Key Resistance Level
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.