Japanese investment firm Metaplanet has announced plans to raise over $62 million (9.5 billion yen) through a stock acquisition initiative aimed at bolstering its Bitcoin treasury. The company, which already holds 1,142 Bitcoin worth over $109 million, aims to capitalize on the cryptocurrency’s growing prominence and hedge against the depreciating yen.
In a statement on Nov. 28, Metaplanet revealed it will issue its 12th Stock Acquisition Rights to EVO Fund, a Cayman Islands-based investment firm, through a third-party allotment of 29,000 units. The initiative underscores Metaplanet’s strategy to expand its Bitcoin holdings by leveraging both debt and equity.
“The majority of the funds raised this time will be strategically allocated for the purchase of additional Bitcoin,” the company stated, emphasizing its commitment to systematically increasing its Bitcoin reserves while mitigating the risks associated with a weakening yen.
Bitcoin’s Record Highs and Yen’s Decline Drive Strategy
Metaplanet’s decision comes on the heels of Bitcoin’s recent all-time high of $99,645.39 on Nov. 22. Simultaneously, the Japanese yen continued its slide, with the USD/JPY exchange rate returning to the 154 level, raising concerns about the currency’s long-term stability.
> “Given these circumstances, we recognize the urgent importance of increasing our Bitcoin holdings and have therefore decided to proceed with this fundraising initiative,” the firm explained.
If approved under Japan’s Financial Instruments and Exchange Act, the fundraising period will run from Dec. 16 to June 16, 2025. Should Metaplanet successfully raise the full $62 million, it could acquire approximately 652 Bitcoin at the current price of around $95,000.
Metaplanet Pivots Away from Metaverse Plans
Metaplanet also announced a strategic shift, shelving its metaverse-related business plans due to a lack of profitability. Instead, the firm has prioritized Bitcoin acquisition as a core component of its corporate treasury strategy.
“There is still no prospect of profitability in our metaverse-related ventures,” the firm said. “We have decided to incorporate the purchase and holding of Bitcoin as a central element of our financial strategy.”
This marks Metaplanet’s latest move in a series of Bitcoin-focused initiatives. In October, the company completed its 11th Stock Acquisition Rights, raising $66 million, which was fully allocated to purchasing Bitcoin. The firm first signaled its intention to buy Bitcoin in April, underscoring its long-term commitment to the cryptocurrency.
Metaplanet’s stock has surged 1,366% over the past year, currently trading at approximately $15.60, according to Google Finance. However, it remains far below its all-time high of $2,521.76, set in February 2013.
