While some wonder if it’s too late to buy Bitcoin (BTC) after their arrival at a new historical maximum price last week, others see more bullish potential. Among them, is the Japanese investment company Metaplenet.
Metaplanet announced today, January 28, which will collect 116,000 million Japanese yen (JPY) through the issuance of actions to acquire more Bitcoin. “This is the biggest capital collection in the history of Asian stock markets to buy BTC,” said Metaplanet in the release.
This sum is equivalent to an investment of 745 million dollars (USD), which today would imply the purchase of 7,254 BTC at a price per USD 102,700 currency. This would make the company climb several positions on the list of companies with more bitcoin in the world.
Metaplenet is considered a Bitcoin whale (investor with more than 1,000 BTC), for having a total possession of 1,762 BTC. Such holdings have been acquired since he reported his decision to maintain Bitcoin as part of his financial management strategy almost a year ago.
Currently, the company occupies the 15th of the companies quoted in the stock market with more Bitcoin in its treasury, according to data collected by the Bitcoin Treasuries explorer exhibited below.
To get the collection, the company will issue 21 million shares of Warrants 0%discount. These financial instruments give the holder the right, but not the obligation, to buy Metaplanet’s shares at a default price before a certain date.
The company indicates that the Japanese yen continues to lose value, in its exchange rate against the US dollar approaching 160 yen. This performance “leaves an uncertain panorama for the future,” he says. In contrast, it distinguishes that Bitcoin has recently reached a new historical maximum price, which was USD 109,300 last week, as cryptootics reported.
“Given this situation, the importance of increasing Bitcoin reserves has become even more relevant,” says Metaplanet. “The company has determined that it is essential to raise funds and acquire BTC as soon as possible,” he adds.
It also warns that Plan to raise funds in yen whenever possible and turn them into BTC To preserve the value of the assets, thus increasing their reservations in the digital currency. “As a BTC -based treasury company, it will continue to play a pioneering role in the Bitcoin sector in Japan,” he culminates.
This initiative takes place while binding expectations for Bitcoin reign this year, due to a confluence of factors. The beginning of Donald Trump’s new mandate in the United States is one of the reasons, since he will evaluate the creation of a National Reserve in BTC and seeks to convert this economic power into the capital of the cryptoactive industry.