Metaplanet Secures Investment from Norges Bank to Enhance Bitcoin Holdings
MicroStrategy's Bitcoin strategy has positively impacted Japan’s Metaplanet Inc., whose CEO Simon Gerovich has engaged with Michael Saylor of MicroStrategy. Metaplanet plans to raise $750 million and recently disclosed an investment from Norges Bank, holding 0.55% or approximately $7 million in the company.
Key details include:
- Norges Bank manages assets worth $1.7 trillion and may increase its stake in Metaplanet.
- Norges Bank owns about 0.72% of MicroStrategy, valued at over $500 million.
- Metaplanet aims to accumulate over 21,000 Bitcoins by 2026, initiating Phase 1 with a target of ¥116 billion for additional purchases.
- Currently, Metaplanet holds about 1,762 Bitcoins, representing roughly 15% of its market cap.
- The company aspires to become a Bitcoin bank, positioning shareholders to benefit from digital asset adoption.
Institutional interest in Bitcoin is rising, influencing states like Wyoming and Texas to consider strategic Bitcoin reserves amid national debt concerns. The supply of Bitcoin on centralized exchanges has decreased to around 2.17 million, indicating potential upward pressure on prices due to supply-demand dynamics.