Metaplanet Raises $66M Through Stocks Acquisition Rights Program

Japanese investment adviser Metaplanet Inc. (3350) has successfully completed its 11th series of stock acquisition rights, raising a total of 10 billion yen ($66 million). The initial announcement of the stock acquisition rights was on Aug. 6, when Metaplanet’s share price stood around 700 yen. Metaplanet adopted bitcoin as a reserve asset in May as it aimed to hedge against volatility in the yen. The company now holds 861.4 BTC, according to bitcointreasuries.net and its shares are up 642% year-to-date. The amount of capital raised in relation to the transfer to EVO Fund equates to 5.7 billion yen ($37.8 million).

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