Metaplanet plans to raise $135 million to buy more Bitcoin

“Metaplanet,” known as “MicroStrategy Asia,” plans to raise more than 21 billion yen (approximately $135 million) by issuing 23.6 million blue-chip “Mercury” shares, aiming to increase its holdings of Bitcoin.

Net proceeds from the offering are estimated to be approximately 20.4 billion yen, as the company plans to use approximately 15 billion yen (approximately $95 million) to purchase Bitcoin, with the remainder allocated to its strategy of generating revenue from the digital currency and redeeming corporate bonds.

“Metaplanet” believes that the global monetary system is undergoing a structural transformation and believes that Bitcoin has become a long-term store of value due to its scarcity, ease of transfer, and transparency.

The company currently holds 30,823 Bitcoins, worth an estimated $2.8 billion, making it the fourth-largest company in the world by the amount of Bitcoin stored.

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