Metaplanet Inc Raises $515 Million in Bitcoin Treasury Plan

Metaplanet Inc and the Blockchain Group have both successfully completed significant equity capital raises as part of their strategies to accumulate bitcoin for treasury purposes. Metaplanet Inc announced the exercise of its 20th series of stock acquisition rights under the recently announced 555 Million Plan, raising 74.9 billion yen, equivalent to $515 million, in a single day. The company issued 54 million new shares following the exercise of 540,000 stock acquisition rights, which represented 29% of the total rights issued. This capital injection is the first major step under the plan and accounts for 10% of the full target. Metaplanet's CEO, Simon Gerovich, highlighted the strategic milestone on X, noting the strong start to the program.

The Blockchain Group, on the other hand, announced a 4.1 million-euro ($4.8 million) capital increase through an at-the-market-type equity issuance agreement with TOBAM. The shares were issued at an average price of 5.085 euros each. This capital raise is in line with the company’s strategy to increase the number of bitcoin per share on a fully diluted basis. The Blockchain Group currently holds 1,653 BTC and is the first of its kind in Europe to pursue such a model.

These moves by Metaplanet Inc and the Blockchain Group reflect a growing trend among companies to incorporate bitcoin into their treasury strategies. The significant capital raises indicate a strong institutional interest in bitcoin investment, as these companies aim to leverage the cryptocurrency's potential for long-term growth and stability. The successful execution of these equity capital raises underscores the confidence in bitcoin as a viable asset for corporate treasuries, further solidifying its position in the financial landscape.