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Metaplanet, a Japanese early-stage investment firm, has announced a gratis allotment of the 11th series stock acquisition rights to all common shareholders.
This way, the company aims to raise nearly 10 billion Japanese yen, equivalent to around $68 million. Of this amount, 8.5 billion yen, or $58 million, is earmarked for investment in Bitcoin (BTC).
Shareholders will receive these stock acquisition rights as of September 5.
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Previously, on July 8, Metaplanet acquired 42.5 BTC for 400 million yen (around $2.7 million). This brought the company’s total Bitcoin holdings to 203.7 BTC, acquired at an average cost of around 10 million yen per BTC, or $68,000 each.
Metaplanet first ventured into Bitcoin in April, officially adopting the digital currency as the core treasury asset and making its first investment of 1 billion yen (approximately $6.8 million).
Speaking at the Bitcoin Conference, Simon Gerovich, CEO of Metaplanet, highlighted that Metaplanet had been showing signs of stagnation before deciding to invest in BTC. He noted that the firm “realized that Bitcoin is the apex monetary asset” and viewed it as a valuable addition to the company’s treasury.
Metaplanet’s decision reflects its belief in the potential of Bitcoin as a vital component of its investment strategy.
In other news, on August 5, spot Bitcoin exchange-traded funds (ETFs) saw outflows totaling $168.4 million.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.
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