News View Non-AMP

Metaplanet Inc. Doubles Bitcoin Strategy After $67 Million Share Sale

Published by
Qadir AK

Metaplanet Inc. (Tokyo: 3350), a traditional web2 company quickly transitioning to web3 technology, has made a significant move to strengthen its Bitcoin (BTC) strategy. Today, the company announced that it raised over ¥10 billion (around $67 million) through a stock acquisition rights program. This funding will help Metaplanet enhance its position in the fast-changing cryptocurrency market.

According to CEO Simon Gerovich, the stock acquisition rights program was fully subscribed, with participation from 13,774 investors. Following this success, Metaplanet plans to buy more Bitcoins to improve its balance sheet.

It seems like Metaplanet is determined to take the leading role in the crypto landscape, leaving all competitors behind.

Expanding Bitcoin Holdings

Currently, Metaplanet holds 861.387 Bitcoins, worth about ¥8 billion, which it has acquired through various initiatives. With the completion of the stock acquisition rights program, the company’s Bitcoin holdings will exceed 1,600, translating to over $100 million in value.

Since adopting its Bitcoin strategy, Metaplanet’s stock has surged over 550 percent year-to-date, trading at around ¥1,110 on Wednesday. The company, now valued at ¥23 billion, aims to follow in the footsteps of MicroStrategy Inc. (NASDAQ: MSTR), which has seen its market capitalization rise to over $40 billion.

Following MicroStrategy’s Moves

As of now, MicroStrategy holds more than 250,000 Bitcoins, accounting for over 1 percent of the total circulating supply. This aggressive accumulation strategy has set a standard for other companies entering the cryptocurrency space.

Bitcoin Price Technical Analysis

Despite strong demand for Bitcoin from major investors, reflected in significant cash inflows into U.S. spot BTC ETFs, the flagship cryptocurrency has struggled to gain bullish momentum like Gold.

From a technical analysis viewpoint, Bitcoin needs to consistently close above the resistance/support level around $69,500 to avoid a potential sell-off below $60,000 in the near term.

Could Metaplanet’s success inspire other companies to follow suit and embrace Bitcoin? Time will tell.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Bitcoin Rich List: Who’s Stacking, Who’s Slacking?

In recent months, many major companies around the world have started buying large amounts of…

June 1, 2025

XRP Price Prediction for 2040: Will It Be Enough to Quit Your 9-to-5?

Many crypto investors dream about the day their favorite coin takes off — and for…

June 1, 2025

This Hot New Altcoin In DeFi Is Turning Heads

As the month of May draws to a close, investors are searching for the best…

June 1, 2025

Best Crypto Coins to Watch This Week and Buy

This week’s crypto spotlight shines brightly on a select group of coins capturing investor interest…

June 1, 2025

Missed Bitcoin at $1? Bitcoin Solaris at $5 Is the Closest You’ll Get to a Real Second Shot

Most investors who passed on Bitcoin early didn’t lack belief — they lacked access, context,…

June 1, 2025

MOONPIG Price Crashes 65% & Kaspa Holds as Punisher Coin See Whale Action: Is this the Next 1000x Pump?

Is meme coin season peaking, or just getting smarter? Right now, Kaspa (KAS) market sentiment…

June 1, 2025