{"id":101812,"date":"2024-11-28T10:43:05","date_gmt":"2024-11-28T14:43:05","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101812"},"modified":"2024-11-28T10:44:49","modified_gmt":"2024-11-28T14:44:49","slug":"metaplanet-stock-soar-6-5-after-62m-for-bitcoin","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/metaplanet-stock-soar-6-5-after-62m-for-bitcoin\/","title":{"rendered":"Metaplanet Stock Soars 6.5% After $62M Bitcoin Acquisition Funding"},"content":{"rendered":"\n

Metaplanet's stock<\/a> surge has continued, targeting gains to 3,000 JPY as\u00a0the company plans\u00a0to buy additional $62 million worth of Bitcoin.<\/p>\n\n\n\n

\"Metaplanet<\/figure>\n\n\n\n

Metaplanet's stock rose 6.5% during Thursday\u2019s trading session following the company\u2019s announcement of a $62 million fundraise through the issuance of Moving Strike Stock Acquisition Rights to acquire more Bitcoin. <\/p>\n\n\n\n

Over the past month, Metaplanet's stock has surged 102%, tripling Bitcoin\u2019s 36% gains during the same period.<\/p>\n\n\n\n

Metaplanet Stock Outperforms with Bitcoin Acquisition<\/h2>\n\n\n\n

Earlier today, Japan\u2019s Metaplanet, often compared to MicroStrategy<\/a>, revealed plans to raise up to 9.5 billion yen ($62 million) via the Moving Strike Stock Acquisition Rights. Using an \u201cAt-the-Market\u201d approach similar to MicroStrategy\u2019s strategy, the company raised capital to expand its Bitcoin holdings. <\/p>\n\n\n\n

This announcement follows the acquisition of 124 Bitcoin last week, which brought Metaplanet\u2019s total holdings to over 1,100 BTC.<\/p>\n\n\n\n

The company plans to use the proceeds from the fundraiser to buy additional Bitcoin and strengthen its position as Asia\u2019s premier Bitcoin Treasury Company. <\/p>\n\n\n\n

According to its filing\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, this initiative aims to increase the amount of Bitcoin held per share, boosting the value of each stock by representing a larger share of the company\u2019s total Bitcoin reserves.<\/p>\n\n\n\n

By leveraging this capital-raising method, Metaplanet aims to grow its Bitcoin reserves at a faster pace than the expansion of its outstanding shares, benefiting shareholders significantly. CEO Simon Gerovich commented on the development, saying:<\/p>\n\n\n\n

\n

\u201cThis marks the next step in an accelerated strategy to acquire more Bitcoin. It reflects our strong belief in Bitcoin as the ultimate store of value and our commitment to driving long-term shareholder value while advancing Bitcoin adoption globally. We are excited to embark on this next phase of growth and thank you for your continued support.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Since integrating Bitcoin into its treasury in May, Metaplanet's stock has skyrocketed 1,300% in 2024. <\/p>\n\n\n\n

The company\u2019s stock recently recorded daily trading volumes of $174 million, surpassing major Japanese corporations like Nintendo and Honda, making it one of the best-performing stocks in Japan.<\/p>\n\n\n\n

Metaplanet Joins BLOK with a 4.4% Stake<\/h2>\n\n\n\n

Metaplanet has also joined the Amplify Transformational Data Sharing ETF (BLOK), a fund focusing on companies involved in blockchain and digital asset innovation. <\/p>\n\n\n\n

BLOK now holds a 4.4% stake in Metaplanet, further underscoring the company\u2019s reputation as Japan\u2019s leading Bitcoin Treasury Company.<\/p>\n\n\n\n

\"\"
Courtesy: Bloomberg<\/figcaption><\/figure>\n\n\n\n

Meanwhile, Bitcoin prices resumed their rally toward the $100,000 mark on Thanksgiving Day, with increased volatility expected ahead of Friday\u2019s options expiry. <\/p>\n\n\n\n

Data from Coinglass revealed $76.15 million in BTC liquidations, with $50 million in short liquidations and $25 million in long liquidations during the recent price movement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Metaplanet’s stock surge has continued, targeting gains to 3,000 JPY as\u00a0the company plans\u00a0to buy additional $62 million worth of Bitcoin. Metaplanet’s stock rose 6.5% during Thursday\u2019s trading session following the company\u2019s announcement of a $62 million fundraise through the issuance of Moving Strike Stock Acquisition Rights to acquire more Bitcoin. Over the past month, Metaplanet’s […]<\/p>\n","protected":false},"author":56,"featured_media":101831,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17807,19076,22374,539],"class_list":["post-101812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-btc-price","tag-metaplanet-2","tag-metaplanet-bitcoin","tag-microstrategy"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/Metaplanet-Stock-Soars-6.5-After-62M-Bitcoin-Acquisition-Funding.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101812"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/101831"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}