🚀 Stay Ahead with AltcoinDaily.co! 🌐
Metaplanet, a Japanese venture capital firm, has unveiled an ambitious strategy to increase its Bitcoin holdings significantly. According to a post on X, the firm announced details of its 11th series of stock acquisition rights, which is at the heart of this strategic investment move. Through this initiative, Metaplanet aims to raise substantial funds, all of which will be directed toward purchasing Bitcoin.
Details of the 11th Series of Stock Acquisition Rights
The investment firm has committed to acquiring Bitcoin by exercising 540,000 warrants using 299,700,000 yen. Shares delivery will begin on September 18 after shareholders are notified of this exercise. This aggressive expansion into Bitcoin demonstrates Metaplanet’s strong commitment to bolstering its cryptocurrency portfolio amid changing market conditions.
By leveraging funds raised through the stock acquisition rights, Metaplanet plans to execute its strategy efficiently and enhance its Bitcoin holdings to align with its broader investment goals. The firm’s leadership has emphasized that this move is not a short-term reaction to market trends. Rather, it is a calculated, forward-looking approach to solidifying its position in the rapidly evolving cryptocurrency landscape.
🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰
Metaplanet Now Holds Over 200 Bitcoins
In July, the renowned entity listed on the prestigious Tokyo Stock Exchange expanded its BTC holdings by acquiring 42.47 BTC at an average purchase price of ¥9,419,300 per Bitcoin. Interestingly, Metaplanet has purchased a total of ¥2.05 billion ($12.7 billion), increasing its cumulative Bitcoin holdings to 203.734 Bitcoins.
Likewise, the Japanese company acquired 23.35 BTC in June. The purchase accounted for 30% of Metaplanet’s market capitalization, suggesting a shift in the company’s investment strategy. Not long after the acquisition, the company established a wholly-owned subsidiary in the British Virgin Islands (BVI) to enhance its BTC management and capabilities.
Metaplanet Follows MicroStrategy’s Footsteps
This continuous move by Metaplanet underscores a growing trend among companies to diversify their corporate treasuries by investing in Bitcoin. Metaplanet’s move comes after MicroStrategy purchased an additional 11,931 BTC for $786 million. As of June 20, 2024, the business intelligence firm had total BTC holdings of 226,331 BTC, worth roughly $14.9 billion.
🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀
With its latest acquisition, MicroStrategy’s BTC holdings have surpassed all countries worldwide, outranking the closest holder country, the United States, with about 7,000 BTC. Although MicroStrategy is renowned for periodic Bitcoin accumulation, market watchers speculate that Michael Saylor might be betting on prices to witness a surge soon.
