#What is Metaplanet's new strategy for capital raising?
Metaplanet is set to issue Class B Preferred Shares, aiming to raise significant capital to further its goal of becoming a Bitcoin Treasury Corporation. The shares will be priced at ¥900 each, with the company projecting over ¥21 billion in gross proceeds and approximately ¥20.4 billion net after expenses.
#How much capital will Metaplanet raise, and what will it invest in?
The plan involves the issuance of 23.6 million MERCURY shares, designed to facilitate the acquisition of additional Bitcoin. Metaplanet intends to allocate nearly ¥15 billion, roughly $95 million, specifically for purchasing Bitcoin. The remainder of the funds will support income-generating strategies related to Bitcoin and assist in the redemption of corporate bonds.
#Why is Metaplanet investing in Bitcoin?
Metaplanet perceives a fundamental shift in global monetary systems and recognizes Bitcoin as an optimal long-term store of value. Its appeal lies in characteristics like scarcity, portability, and transparency, which position it as a strong alternative to traditional currencies.
#What is Metaplanet's current Bitcoin holding?
Currently, Metaplanet ranks as the fourth-largest corporate holder of Bitcoin globally, with 30,823 Bitcoin valued at approximately $2.8 billion. This substantial investment underscores its commitment to Bitcoin as a cornerstone of its financial strategy.
As Metaplanet moves forward with its capital-raising initiative, retail investors should stay informed about its impact on both the company's financial health and the broader cryptocurrency market.