Here’s why Metaplanet raised $13.6M to buy Bitcoin’s dip
Metaplanet investors saw better returns in 2024 and held the recent BTC dump better than MSTR counterparts.
- Metaplanet sought an extra $13M raise to scoop ‘cheap’ BTC.
- The company’s investors were better off than MSTR’s counterparts.
Metaplanet, dubbed as Japanese MicroStrategy, has issued another convertible bond to raise 2B Yen (about $13.6 million) to grab the fire discount Bitcoin[BTC] as the king coin slipped below $80K.
Reacting to the capital raise, Dylan LeClair, BTC Strategy Officer at Metaplanet, acknowledged that they were eyeing the recent discount sale.
“Time to buy the dip, $BTC.”
For his part, Simon Gerovich, CEO of Metaplanet, explained that they opted for the bond route instead of selling shares to preserve ‘shareholders’ value.’
“Instead, we leveraged 0% interest on bonds to secure capital to continue accumulating Bitcoin while preserving shareholder value.”
Metaplanet BTC holding cross 2K
As of February 2025, the company had 2,235 BTC holding (worth over $180M), crossing the 2K mark for the first time this year.
Last summer, the firm adopted the BTC strategy, using the Strategy (formerly MicroStrategy) playbook of using debt and selling shares to raise capital for BTC buys. Since then, the firm’s share surged to a whopping +1300% by mid-February.
Despite the recent decline in BTC, Metaplanet’s share was still up 930% from last summer.
In fact, it saw the smallest plunge relative to MicroStrategy’s MSTR and BTC this year. On year-to-date (YTD), Metaplanet was down 4.8%, compared to MSTR’s -17% and BTC’s -15%.
However, on a YoY (year-on-year) basis, the company”s share was up 1,640% relative to BTC’s 28% and MSTR’s 150% gains.
Simply put, BTC investors who sought indirect exposure through Metaplanet were better off than their MSTR counterparts.
