Metaplanet to buy 21K Bitcoin, Korean exchange users up 450%: Asia Express
Japan’s Metaplanet set to become third largest corporate holder of Bitcoin, as new Korean exchange accounts surge 450%. Asia Express
Metaplanet, a publicly traded Japanese firm often called “Asias MicroStrategy,” is raising more than 116 billion yen ($745 million) to expand its Bitcoin holdings.
On Jan. 28, the company announced it had issued 21 million shares through moving strike warrants, which grant investors stock acquisition rights with adjustable exercise prices. While such warrants are typically issued at a discount, Metaplanet’s offering does not as it sets the share price at the full closing value on the pricing date.
The company claims this is the largest capital raise in Asian equity markets dedicated to Bitcoin purchases.
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Author: Yohan Yun
