During Metaplanet Inc’s board of directors meeting, it was announced that the company will distribute stock acquisition rights for its 11th series to all common shareholders for free.
This move aims to raise around 10 billion Japanese yen (equivalent to approximately $69.13 million), with 8.5 billion yen (around $58.76 million) to be used for investment in Bitcoin.
Effective September 5, all common shareholders will receive these stock acquisition rights and the allotment will take effect from September 6 onwards.
The decision to invest most of the raised funds in BTC is due to the asset’s potential for long-term appreciation and its ability to serve as a hedge against currency depreciation.
