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.
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.
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 completion of its 11th Stock Acquisition Rights exercise, with a 72.8% participation rate and total funding of 10 billion yen, highlights strong shareholder support for the company’s strategic Bitcoin focus. Dubbed “Asia’s MicroStrategy,” Metaplanet’s aggressive acquisition of Bitcoin—now totaling 861.387 BTC—has fueled investor confidence, as evidenced by the company’s 443.2% stock surge in September.
Despite recent fluctuations in Bitcoin prices, Metaplanet’s continued investment underscores its long-term belief in Bitcoin’s potential as a key treasury asset, positioning it as a significant player in the crypto investment space.
Via 36crypto
