$84,392.00
0.72%$1,594.24
1.19%$2.09
0.73%$584.86
1.07%$133.13
6.33%$1.00
0.00%$0.244887
-3.58%$0.155988
1.39%$0.615407
1.38%$1,592.91
1.12%$84,431.00
0.78%$9.45
0.58%$19.24
1.78%$12.46
2.05%$2.94
3.05%$0.236934
1.16%$0.999936
0.00%$0.00001188
1.99%$1,910.66
1.06%$2.09
-0.08%$0.158941
0.61%$330.68
3.15%$74.75
-1.55%$3.63
3.01%$16.33
8.34%$4.34
1.68%$1.00
-0.12%$0.999042
-0.03%$1,593.39
1.15%$0.609724
-1.23%$218.49
0.02%$27.76
0.00%$1,697.08
0.94%$84,396.00
0.59%$5.22
1.11%$51.22
-2.01%$0.00000727
1.96%$4.67
1.30%$22.37
0.74%$33.60
-0.72%$0.835685
1.25%$1.048
0.07%$1.00
0.00%$2.03
0.59%$0.702931
0.82%$0.084291
2.55%$4.70
-0.64%$14.96
-0.18%$1.16
-0.02%$137.43
1.64%$3.87
6.15%$232.78
1.24%$0.07673
3.43%$0.02270118
1.63%$4.11
2.97%$4.22
0.40%$84,459.00
0.99%$0.99803
-0.06%$0.183391
1.54%$2.39
-1.13%$0.179857
-0.37%$7.77
-3.02%$0.271508
0.09%$0.470317
0.09%$3.82
2.73%$2.30
0.48%$84,487.00
0.92%$0.282486
1.09%$10.14
-1.93%$0.467633
1.68%$1,354.79
0.66%$0.071563
0.88%$139.25
6.31%$0.999707
-0.08%$0.646326
2.12%$3.99
-1.24%$0.366793
2.31%$1.026
0.96%$1,595.10
1.14%$65.31
2.46%$0.01504913
-0.03%$1,659.09
1.05%$0.61376
-0.13%$0.00001194
2.58%$0.909303
4.96%$0.581743
0.30%$0.700174
-1.15%$0.171665
2.44%$1.00
-0.09%$0.999912
-0.03%$585.21
1.04%$3,344.47
0.68%$0.999752
-0.02%$0.605372
0.46%$13.78
-3.16%$1,796.80
1.01%$3,344.72
0.63%$7.75
1.03%$83,892.00
1.33%$0.411099
2.95%$0.076956
-0.49%$0.9977
-0.03%$84,303.00
0.60%$2.34
11.74%$0.0136688
-2.28%$0.686632
-12.74%$146.65
6.48%$0.639376
-3.37%$0.01905968
5.66%$3.52
7.31%$0.697005
2.58%$0.999361
-0.06%$1,695.06
1.28%$171.13
6.46%$0.01384894
-1.09%$0.247179
-0.06%$0.599387
6.74%$0.00000061
0.28%$1.10
0.54%$0.239841
-8.86%$0.099881
0.35%$0.156866
-0.21%$27.85
0.91%$0.345104
1.20%$0.00005424
1.73%$1.81
-0.87%$0.414847
0.31%$0.490338
-2.03%$1.60
-0.36%$31.41
-0.39%$0.267498
1.18%$1,667.11
1.14%$3.06
-1.13%$83,978.00
-0.10%$0.998067
-0.03%$0.999987
-0.00%$0.067998
-0.39%$82,359.00
0.35%$1.70
2.72%$0.430106
1.61%$0.128267
2.41%$13.96
1.91%$1.00
0.00%$0.458123
2.25%$0.00464223
2.35%$84,440.00
0.71%$0.550965
0.19%$1.98
-3.74%$0.00000042
-2.22%$3.75
-0.60%$1.002
0.30%$1.08
0.00%$110.71
0.01%$1,664.28
-0.08%$0.156453
1.81%$1.13
2.10%$0.00689799
-0.33%$13.73
1.79%$1,695.45
1.26%$84,391.00
1.05%$83,087.00
-0.29%$0.00001919
0.51%$5.37
-0.89%$0.377739
1.64%$22.80
-1.00%$0.999786
0.02%$1,592.70
1.35%$1,593.44
1.14%$2.19
0.89%$0.133969
4.11%$39.24
-0.68%$0.120452
-3.28%$1.001
0.08%$0.536205
-1.74%$1,593.82
1.13%$1,593.29
1.19%$0.03566847
-0.28%$0.03388266
5.60%$0.417579
2.00%$0.998908
-0.08%$0.999869
-0.01%$0.064501
-2.10%$1.002
0.31%$4.93
-1.32%$0.159896
3.96%$0.01663497
-2.56%$0.999747
-0.02%$0.390891
0.95%$0.00005773
1.02%$0.179708
-0.57%$0.74064
-0.32%$0.066614
-0.87%$0.718093
-1.79%$0.03035192
-1.76%$0.485027
1.52%$0.00353911
0.14%$0.999699
-0.04%$3.75
-1.90%$0.00566188
0.33%$0.253529
1.88%$0.00468531
6.00%$0.999971
-0.01%$1,610.70
1.25%$109.21
0.92%$0.00000134
-1.44%$0.289098
-1.30%$84,432.00
0.71%$3,230.01
0.00%$0.12925
-4.23%$84,333.00
0.55%$2.72
-1.01%$0.255097
1.39%$2.29
-4.87%$1,574.73
1.18%$1.021
-1.64%$0.557895
1.26%$20.21
0.27%$0.252525
5.65%$0.19918
-1.72%$0.999913
-0.01%$1,594.50
1.25%$0.03469148
7.75%$0.237621
4.81%$3.57
-7.49%$21.22
-1.53%$1,682.80
0.95%$0.512233
-1.21%$19.24
1.37%$1,695.23
0.76%$0.16559
0.04%$0.456159
-1.28%$0.00037284
-3.02%$0.399974
-2.83%$0.0266891
-1.21%$0.01134862
3.31%$0.998176
-0.07%$0.096822
2.17%$1,746.43
1.18%$0.00241729
-8.50%$1.14
0.12%$0.999906
0.01%$84,278.00
0.16%$0.620528
-1.92%$1,735.61
1.33%$2.66
0.53%$0.873763
1.97%$1.96
1.40%$0.243574
4.52%Reading
Metaplanet—a Japanese investment firm focused on accumulating Bitcoin—announced plans to raise ¥9.5 billion (around $62 million), to grow its holdings of the cryptocurrency.
The company announced its 12th stock issuance in a Nov. 28 notice . Metaplanet will issue the 29,000 stock acquisition rights for 100 shares each to Cayman Islands investment management firm EVO Fund.
*Metaplanet Announces Issuance of Moving Strike Stock Acquisition Rights to Raise Up to ¥9.5 billion ($62 million) for Accelerated Bitcoin Accumulation* pic.twitter.com/bL7rs6Qkk4
— Metaplanet Inc. (@Metaplanet_JP) November 28, 2024
“The majority of the funds raised this time will be strategically allocated for the purchase of additional Bitcoin,” the notice reads. “We have made it clear that we intend to utilize debt and periodic stock issuance to systematically increase our Bitcoin holdings while reducing exposure to a depreciating yen.”
Metaplanet further highlighted that Bitcoin’s “prominence continues to grow” after it nearly hit $100,000 earlier this month. On the other hand, “the Japanese yen continues to depreciate, with the USD/JPY exchange rate returning to the 154 level on the same day, presenting ongoing concerns.”
“Given these circumstances, we recognize the urgent importance of increasing our Bitcoin holdings and have therefore decided to proceed with this fundraising initiative,” the company concluded.
The stock acquisition still needs approval by local regulators under Japan’s Financial Instruments and Exchange Act. If approved, the operation will take place from Dec. 16, 2024 until June 16, 2025. At the current price of about $98,000 per Bitcoin, the company would acquire over 638 BTC with the proceedings of the deal.
Metaplanet also said that it had decided to put aside its “metaverse related businesses plans” since “there is still no prospect of profitability, and has decided to incorporate the purchase and holding of Bitcoin as part of our stated corporate treasury strategy.”
The comments follow public disappointment with the results of the metaverse under development by Meta (formally Facebook) following a $177 billion investment by the company by the summer of 2022. As Decrypt reported at the time, the platforms' graphics being heralded as at the forefront of the metaverse look about the same—if not worse—than the 20-year-old virtual world Second Life.
In its acquisition of Bitcoin for its corporate treasury, Metaplanet is following in the footsteps of U.S. business intelligence firm MicroStrategy, which under the direction of its chairman Michael Saylor has pursued an aggressive strategy of Bitcoin purchases.
MicroStrategy now holds well over 1% of Bitcoin’s 21 million supply, while Saylor has touted his “Bitcoin playbook” to a number of firms, including Tesla and more recently Microsoft.
MicroStrategy shares fell 16% to $397.28 Thursday, following statements from influential investment firm Citron Research that it placed a short position against the company while maintaining a long position in Bitcoin. The disclosure reveals mounting concerns about the company’s stock being overvalued due to what some perceive as an overly excessive company valuation. Citron Research claimed Bitcoin investing has been "easier than ever," citing ETFs and stocks available on trading platforms Coin...
Still, after seeing renewed interest at the start of the current crypto bull run, MicroStrategy’s stock took a 16% dive just as Bitcoin was approaching $100,000. At the time, one analyst explained why their firm took a short position on MicroStrategy while being long on Bitcoin.
A wallet used by the creators of President Donald Trump’s Solana meme coin made its first-ever withdrawals on Tuesday, sending $4.6 million worth of the project’s liquidity to a Coinbase Prime account. The move comes just days ahead of the project’s first major token unlock, which is set for Thursday. Upon the three-month anniversary of the coin’s surprise launch on the eve of the president's inauguration, 40 million TRUMP tokens are scheduled to be released into circulation. At writing, that...
Only 0.0005% of the $11 billion collected in income tax in Colorado since 2022, amounting to just over $57,000, has been paid using crypto. The State of Colorado began accepting crypto-based tax payments in September 2022, under a policy introduced by Governor Jared Polis. Yet figures shared with Colorado Newsline by the Colorado Department of Revenue reveal that only eight payments using crypto were made in 2022, amounting to a grand total of only $16,426. This rose to 22 payments and a total o...
Bitcoin mining firm Auradine has raised $153 million in its latest funding round as it aims to launch a new AI-focused initiative. StepStone Group led the Series C funding round, with participation from Maverick Silicon, Samsung Catalyst Fund, MARA Holdings, and other investors, according to Auradine's statement published on Wednesday. The oversubscribed raise brings the firm's total raised capital to $300 million. Auradine will use its funds to fuel a new business group, AuraLinks AI. The ini...
