Metaplanet needs 5% stock gain to issue shares for BTC buys

Japanese listed company Metaplanet will be able to issue new shares to purchase more Bitcoin if its stock price increases by another 5%, CoinDesk reported. Reaching a price of 637 yen would enable the company to issue up to 210 million new shares, with the proceeds expected to be used primarily for BTC acquisitions. Metaplanet currently holds 35,102 BTC.