Japanese investment company Metaplanet has announced plans to raise $62 million through the issuance of stock options for the EVO Fund. This raised amount will be used to buy more Bitcoin to manage the treasury.
The company emphasized that it will continue to maintain its “Bitcoin first” strategy.
Metaplanet has outlined its strategy in one press releaseconfirming the issuance of the 12th series of Stock Options. Starting December 16, 2024, the company will allocate 29K units through a 3rd party allotment.
Each unit gives the EVO Fund the right to purchase 100 common shares, at a price of 614 yen per unit, for a total of 17,806,000 yen.
We favor a ‘Bitcoin first, Bitcoin only’ approach to fund management. We have been clear that we will use debt and recurring equity issuances to systematically grow our Bitcoin holdings, while reducing our dependence on the depreciating yen,” Metaplanet stated in the release. will.
This year, Metaplanet has been actively using stock options to increase its Bitcoin holdings.
In October, the company concluded its 11th issuance, raising 10 billion yen ($66 million), and a significant portion was allocated to purchasing more Bitcoin. The company’s stock price increased more than 1,000% in 2024.
Publicly Listed Companies Continue to Buy More BTC
Publicly listed companies are increasingly investing heavily in Bitcoin. Yesterday, Chinese company SOS Limited also purchased $50 million worth of BTC. Immediately after this information, their stock price skyrocketed more than 100%.
Furthermore, MicroStrategy recently purchased an additional $5.4 billion worth of BTC. This is their third Bitcoin purchase in just November. The company has spent more than $16 billion on Bitcoin this year, maintaining its position as the largest institutional holder of Bitcoin.
Similar to other companies, MircoStrategy’s stock performance has mirrored Bitcoin’s growth. Their shares have increased 450% since the beginning of the year, ranking among the Top 100 largest public companies in the US.
Other companies are also significantly increasing their investments in Bitcoin. Marathon Digital recently raised $1 billion through the issuance of convertible senior bonds, spending most of the money to buy Bitcoin.
The performance of Bitcoin price continues to generate optimism. Despite reaching $99,000 in the current cycle, public companies still maintain faith in Bitcoin’s long-term potential.
In fact, Pantera Capital recently predicted that Bitcoin could reach $740,000 by 2028, reinforcing optimism across the industry.
