Japanese investment firm Metaplanet has significantly expanded its capital increase to aggressively grow its Bitcoin holdings.
The company has announced that it will issue 385 million new shares in an international offering, an increase from the initial plan of 180 million shares, in order to raise approximately $1.4 billion.
According to a filing, the vast majority of the net proceeds, approximately $1.2 billion, will be explicitly used for the "purchase of Bitcoin."
A smaller portion will be used to fund its Bitcoin revenue-generating business, which includes options trading.
This huge capital injection aims to consolidate its position as one of the leading corporate holders of Bitcoin.