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Japan-based Metaplanet raised 10 billion yen through stock sales, indicating the company’s readiness for significant Bitcoin 
$109,647 acquisitions in the upcoming period. Following MicroStrategy’s strategy, Metaplanet aims to gather more capital to finance its Bitcoin purchases. Currently, Bitcoin prices remain under pressure around the 69,000 dollar mark, experiencing a 2% decline by the day’s end.
Metaplanet’s Capital Increase
In its 11th series of Stock Purchase Rights, Metaplanet saw participation from 13,774 shareholders. With all rights utilized by EVO FUND, the company generated a revenue of 10 billion yen.
Institutional Investors Turn to BTC
Large investors like BlackRock are showing increased interest in Bitcoin. Many institutional investors prefer exposure to Bitcoin. Companies selling shares are participating in the process of Bitcoinization of traditional markets. Metaplanet’s CEO Somin Gerovich commented on these developments, confirming the transfer of unused rights to EVO FUND. All transferred rights will be utilized by October 22, 2024, allowing the company to raise 10 billion yen in funds.
BTC Price Movements and Metaplanet’s Strategy
After the stock sale, Metaplanet’s share price fell below 1,200 JPY, resulting in a 5.85% loss. However, the company has recorded a 644% increase since the beginning of the year. Since May 2024, Metaplanet has held over 850 Bitcoins. As Bitcoin fluctuates between 60,000 and 70,000 dollars, this presents an opportunity for long-term investors.
Metaplanet plans to increase its Bitcoin reserves while the price remains below 70,000 dollars, implementing various strategies to raise cash.
Success in Options Trading
Metaplanet achieved over 2 million dollars in profits through Bitcoin options trading with QCP Capital. As Bitcoin prices dipped to 67,389 dollars, the company continues to pursue its long-term investment strategies.
Overall, Metaplanet’s Bitcoin strategies and stock sales strengthen the company’s position in the crypto market. Stakeholders eagerly await the company’s future moves. These developments clearly indicate the growing interest of institutional investors in Bitcoin. The long-term potential of Bitcoin becomes increasingly notable with such strategic actions.
