Metaplanet plans to buy more Bitcoin with 299.7 million yen after recent purchases and a bond sale.
Considering the current state of the market, the Japanese based company Metaplanet has revealed their intention to purchase additional Bitcoin (BTC).
The management sent out a notification to the company’s members regarding the eleventh series of stock acquisition rights. This comes on the heels of speculations about the price of Bitcoin in the coming weeks, as investors focus their attention on macroeconomic environment variables.
Metaplanet To Buy More Bitcoin
Metaplanet has revealed that it intends to purchase more bitcoin in order to expand its growing portfolio. The company disclosed on September 9 that its management has acquired the eleventh series of stock acquisition rights, along with the accompanying criteria and delivery details.
The statement indicates that the delivery date will occur after the distribution of shares to general investors on September 18. The company announced that they have received the entire exercise price, which matches the number of warrants exercised, as of today. We will use the received funds to purchase Bitcoin.
We have identified the exercisers, the number of warrants exercised, and the amounts exercised.We plan to exercise a total of 540,000 warrants, using 299,700,000 yen to purchase Bitcoin. Metaplanet made several acquisitions of Bitcoin as it increased its investment in cryptocurrencies.
In a recent announcement, Metaplanet disclosed that it has acquired the top crypto assets by market cap for a total of 500 million yen. Users of digital assets have recognized and praised the corporation’s efforts to enhance its holdings and diversify its balance sheet.
Through the sale of bonds in June, the corporation was able to purchase Bitcoin worth seven million dollars. Following the Securities and Exchange Commission’s (SEC) introduction of spot Bitcoin exchange-traded funds (ETFs) in the United States, Bitcoin’s value reached an all-time high in 2018.
Institutional demand drove this trend. As a result, established institutions increased their exposure to the asset, pushing it to its current price. In light of recent emotions, the price of Bitcoin is currently trading below $56,000 at the time of this publication.
The Proof of Workforce Foundation (POWF) and Careers in Government Inc. formed a partnership to introduce Bitcoin to public sector workers.
We will place a significant emphasis on integrating the asset into welfare packages that prioritize innovation. This new discovery, in conjunction with recent purchases of Metaplanet, indicates that there is a growing demand in the field.
