Metaplanet Raises $880 Million for Bitcoin Expansion: Focus on Crypto Strategy and Market Recognition

Japanese firm Metaplanet announced a massive $880 million share offering, aiming to boost its stock to around 1.27 billion shares from the current 722 million. The company plans to finalize pricing between September 9th and 11th with settlement shortly thereafter. This move will significantly increase its Bitcoin holdings. Nearly half of the proceeds (around $835 million) will be allocated to expanding Metaplanet’s Bitcoin reserves, which currently stand at 18,991 BTC worth nearly $2.1 billion.