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December 2, 2024Metaplanet’s stock experienced a 6. 5% increase during Thursday’s trading session after announcing a capital raise of $62 million through the issuance of Moving Strike Stock Acquisition Rights, intended for acquiring more Bitcoins. With a remarkable 102% increase over the past month, the stock has outperformed Bitcoin’s gains of 36% by threefold.
Metaplanet Stock Excels Amid Bitcoin Acquisition
Today, Metaplanet of Japan disclosed the issuance of Moving Strike Stock Acquisition Rights to raise a maximum of 9. 5 billion yen (about $62 million). By implementing the “At-the-Market” strategy similar to MicroStrategy, the Japanese company successfully gathered additional funds for long-term Bitcoin accumulation. This announcement closely follows Metaplanet’s recent acquisition of 124 Bitcoins, expanding its total holdings to over 1,100 BTC within a week.
The company plans to utilize the funds raised to procure more Bitcoins while solidifying its reputation as Asia’s pioneering Bitcoin Treasury Company. According to the company’s statement, this initiative will enhance the amount of BTC held per share, consequently elevating the value of each Metaplanet stock by representing a more substantial portion of the company’s overall Bitcoin assets.
