The company aims to build a substantial Bitcoin reserve as a hedge against economic uncertainties, similar to the strategy employed by American firm MicroStrategy.

Metaplanet is exploring various strategies, including trading Bitcoin options and forming collaborations with financial institutions such as SBI Group, to further its market position.

The total amount raised after the offering, including transfers to EVO FUND, amounts to 10 billion yen ($66 million), with the transfer to EVO Fund accounting for 5.7 billion yen ($37.8 million).

CEO Simon Gerovich expressed gratitude to shareholders for their participation and emphasized the company's mission to become a leading Bitcoin treasury firm.

Metaplanet's vision includes using Bitcoin to navigate economic challenges and foster financial innovation, which resonates well with investors.

Despite recent fluctuations in Bitcoin prices, Metaplanet remains committed to its acquisition strategy, viewing market volatility as an opportunity to increase their holdings.

The capital raised will be utilized to expand Metaplanet's presence in the cryptocurrency market and significantly increase its Bitcoin reserves, which currently total 861 Bitcoin valued at around 8 billion yen.

Following the stock sale, Metaplanet's share price decreased to 1,188 JPY, reflecting a 5.85% drop, yet it has achieved an impressive 644% gain year-to-date.

Metaplanet has successfully raised 10 billion yen (approximately $66.2 million) through its 11th stock acquisition rights offering, aimed at enhancing its Bitcoin holdings.

The offering, which concluded on October 22, 2024, saw participation from over 13,700 shareholders, including notable institutional investor BlackRock, indicating strong confidence in Metaplanet's strategy.

Out of 18.1 million stock rights issued, 72.8% were exercised by shareholders, totaling 13,774 individuals, which demonstrates robust shareholder support.

The company's strategy aims to position itself advantageously amidst Japan's economic challenges, including negative interest rates and quantitative easing.