Metaplanet has announced a successful $62 million fundraising initiative aimed at bolstering its Bitcoin reserves. The company disclosed this move on November 28, 2024, as part of its treasury management strategy to mitigate risks associated with yen depreciation and inflation.

According to the document, “The majority of the funds raised this time will be strategically allocated for the purchase of additional Bitcoin.” Metaplanet emphasized its commitment to Bitcoin, stating, “We are prioritizing a Bitcoin-first, Bitcoin-only approach to treasury management.”

The funds were raised through the issuance of the 12th Series Stock Acquisition Rights, allocated via third-party allotment to EVO FUND. Metaplanet clarified, “This financing will be executed through the allocation of stock acquisition rights to EVO FUND, with the company’s capital increasing as the allottee exercises these rights.”

Of the $62 million raised, approximately 9,167 million yen is earmarked for Bitcoin purchases, with 340 million yen reserved for working capital. 

The document elaborated, “We believe that by issuing these Stock Acquisition Rights and continuing to increase our Bitcoin holdings, we can protect ourselves from the fall in value of the yen and eliminate the impact of inflation, thereby achieving sustainable enhancement of corporate value.”

This strategic move aligns with Metaplanet’s vision to expand its Bitcoin holdings and reduce reliance on traditional financial instruments, reflecting the growing trend of corporations adopting digital assets.