Japanese Bitcoin treasury Metaplanet plans to raise $5.3 billion to enhance its portfolio of Bitcoin. The Tokyo Stock Exchange-listed company, which already owns 8,888 BTC valued at approximately $934 million, is introducing a stock acquisition rights offering of 555 million shares. CEO Simon Gerovich remarked on their strategy of pricing stock rights issuance above market value, indicating a significant shift from the norm of 8 to 10 percent discounts for similar financings. Metaplanet has transitioned from a traditional hotel and tech business to primarily acquiring Bitcoin, aiming to reach a holding of 210,000 BTC by 2027, thereby representing about 1% of the total Bitcoin supply. The firm has been compared to MicroStrategy, recognized for its substantial Bitcoin investments. The companyā€™s stock price has surged over 600% in the last year, reflecting its growing impact in the cryptocurrency space, as Bitcoin trading recently exceeded $105,000 per coin, rising 1.1% in the past 24 hours.

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