Japan-based Metaplanet Eyes Further Increasing Bitcoin Holdings

• Members of the eleventh series of stock purchase rights were notified by the corporation.
• The total amount to be spent on Bitcoin by the Japan-based firm is 299,700,000 yen.

Amid the current market sentiment, Metaplanet, a Japanese corporation, revealed ambitions to buy additional Bitcoin (BTC). Members of the eleventh series of stock purchase rights were notified by the corporation. As investors focus on macroeconomic variables, speculations about the price of Bitcoin are sure to continue in the next weeks.

As part of its expansion strategy, Metaplanet has announced intentions to increase its Bitcoin holdings. Announcing the eleventh series of management stock purchase rights along with related criteria and delivery information, the business made the announcement in a Sept. 9 corporate report. The general public will get their shares on September 18th, according to the statement, although the delivery date is beyond that.

Banking on Bitcoin

Additionally, the business is pleased to inform that all warrants have been exercised and that the entire exercise price has been received as of today. Bitcoin will be purchased using the funds that are received.

Moreover, the total amount to be spent on Bitcoin is 299,700,000 yen, with 540,000 warrants to be exercised. Also, multiple Bitcoin purchases by Metaplanet demonstrated the company’s commitment to its crypto investment.

Furthermore, the leading cryptocurrency by market cap were acquired by Metaplanet for 500 million yen recently. Also, the company’s attempts to diversify its assets and boost its holdings have been praised by digital asset consumers. In June, the business acquired $7 million in Bitcoin via the selling of bonds.

Moreover, in the wake of the SEC’s approval of spot Bitcoin ETFs in the US, institutional demand propelled Bitcoin to a new all-time high this year. Therefore, conventional financial institutions raised their holdings of the asset. The price of Bitcoin is now trading around $55,000 as per data from CMC, reflecting recent market pessimism.

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