Metaplanet, a Japanese investment firm, has approved a significant fundraising plan aiming to raise 180.3 billion yen ($1.2 billion) through an overseas share issuance, with $835 million allocated for Bitcoin purchases. The company plans to issue up to 555 million new shares, increasing its total outstanding stock to approximately 1.27 billion shares. The issue price will be determined between September 9-11, with transactions set to settle shortly afterward. Metaplanet intends to use the majority of these funds to bolster its Bitcoin reserves, currently at 18,991 BTC valued at about $2.1 billion. The company aims to defend against Japan's weak yen and inflation risks while enhancing corporate value. Additionally, $440 million will support a Bitcoin Income Business that profits from selling covered call options on BTC holdings. This move aligns with the company's ongoing Bitcoin-focused strategy, targeting a total of more than 210,000 BTC by 2027. Metaplanet's recent upgrades to a larger market index reflect its strong performance and growth aspirations in the crypto space.

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