Cryptocurrency treasury firm Metaplanet has raised a total of $531 million in fresh capital to fund its enterprise, as per an official update on Monday.
The company has raised a total of $531 million through two methods,
“Metaplanet has raised ~$255m from global institutional investors via a placement of new shares priced at a 2% premium, paired with fixed-strike warrants at a 10% premium that monetize our equity volatility for up to ~$276m in additional capital upon exercise. Up to ~$531m in additional firepower on our march towards 210,000 BTC,” said CEO Simon Gerovich on X.
The company made a string of announcements on Monday, discussing its operations in detail. The company now has multiple businesses open, including a Bitcoin magazine, a Bitcoin derivatives investment company, its main business of a Bitcoin treasury, and reportedly a small remaining stake in hotels.
At the time of writing, Metaplanet shares were trading at 391 japanese yen, up by 4.83%.
The update comes as Metaplanet continues with its aggressive BTC investment strategy, now holding a total of 35,102 BTC, that fluctuates between $2.4 billion and $3.7 billion in value.