Japan MetaPlanet jumps 16.85% intraday... Investor sentiment strengthens on large-scale fundraising plan

MetaPlanet, often referred to as the 'Japan's Strategy (formerly MicroStrategy)', is surging sharply during intraday trading. This is attributed to a surge in investors following the announcement of a large-scale fundraising plan last week.

According to the Tokyo Stock Exchange (TSE) on the afternoon of the 9th (Korea time), MetaPlanet was trading at ¥1,567 intraday, up 16.85% from the previous trading day.

The reason behind MetaPlanet’s stock price increase is believed to be its capital increase plan announced last week.

According to Bloomberg, last Friday, MetaPlanet announced a dedicated Bitcoin (BTC) capital increase plan worth about ₩7,270,000,000,000 (¥770,900,000,000). Simon Gerovich, CEO of MetaPlanet, said, "We plan to raise funds by issuing convertible warrants for 550 million new shares at a premium price, leveraging our unique stock price volatility and liquidity."

Along with the capital-raising plan, MetaPlanet also announced its intention to increase its Bitcoin holdings to 210,000 units by 2027.

On this, Richard Galvin, co-founder of DACM, explained, "Treasury companies, including MetaPlanet, are providing a new source of purchase demand for virtual assets and tokens."