Metaplanet plans to raise $62 million to buy additional Bitcoin

Japanese investment firm Metaplanet has announced plans to raise an additional 9.5 billion yen to purchase Bitcoin (BTC).
Metaplanet announced in a statement on the 28th that it has acquired EVO Fund, an investment management company based in the Isle of Man.
Metaplanet has announced that it plans to issue 29,000 new share subscription rights through a third-party allotment to the Yahoo! Fund.
If the round is successful, the company will be able to purchase an additional 652 BTC at current prices.
"The majority of the proceeds from this round of funding will be strategically allocated to additional Bitcoin purchases," Meta Planet said in a statement, "to leverage debt and make regular equity purchases to mitigate the impact of the weak yen."
"We plan to systematically increase our Bitcoin holdings through issuance," he said. Meta Planet is targeting Bitcoin's all-time high of $99,645.39 (
The company noted that the dollar/yen exchange rate rose again to the 154 yen level on the same day, and concerns about the yen's depreciation continued.
"We recognize that increasing our Bitcoin holdings is an urgent task in this situation, and have therefore decided to move forward with this fundraising plan," he said.
The issuance of the stock options is in accordance with the Financial Instruments and Exchange Act of Japan.
If the proposed amendments are approved under the 2020 EPA Act, the trial will run from December 16 to June 16, 2025.