A Japanese public company has been on a Bitcoin buying spree. And now they are planning to ramp things up.
What’s happening:
- Metaplanet (OTCQX: MTPLF) has raised approximately $60.3M USD in a new debt financing round for the sole purpose of acquiring more Bitcoin
Why it matters:
- Metaplanet is the first publicly listed company in the history of Japan to begin purchasing Bitcoin to hold directly as an asset
By the numbers:
- Metaplanet currently holds 1,142 Bitcoin
- Since beginning to acquire Bitcoin, Metaplanet has seen their share price soar by more than +2,000%
Going deeper:
- Public companies have continued to pour more cash into Bitcoin purchases lately, with Riot Platforms (NASDAQ: RIOT) just recently acquiring another half a billion dollars worth of Bitcoin and Semler Scientific (NASDAQ: SMLR) also announcing they would increase their at-the-market equity financing plans to be able to continue to accumulate more Bitcoin
