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MetaPlanet's stock price is only 5% away from the level needed to restart stock issuance for Bitcoin purchases.
Deep Tide TechFlow News, January 14 — According to CoinDesk, Japan’s BTC Treasury Company MetaPlanet’s stock price has approached the trigger point for restarting its stock issuance plan, only about 5% away from the target.
On Wednesday, MetaPlanet’s stock price rose 15% to 605 yen, nearing the trigger price of 637 yen. Once this level is reached, the company will activate the Series 23 mobile exercise warrants plan, allowing the issuance of up to 105 million new shares, with the funds likely used to purchase more Bitcoin. If the stock price continues to rise to 777 yen, the Series 24 warrants will be activated, permitting an additional issuance of 105 million shares.
MetaPlanet currently holds 35,102 Bitcoins, making it the fourth-largest publicly listed Bitcoin holder globally. Since the December low, the company’s stock price has increased by 90%, and the ratio of enterprise value to Bitcoin holdings has risen to 1.36, the highest level since October.