Key Points
- Capital Group has purchased 5% of Metaplanet’s valuation to bolster its Bitcoin strategy.
- Metaplanet has been leveraging global capital market opportunities to increase its Bitcoin holdings.
Metaplanet Inc, a rapidly expanding firm in the Bitcoin ecosystem, has attracted a significant investor.
The mid-sized Japanese company, valued at around ¥126.75 billion, announced that Capital Group, a private fund manager with over $2.7 trillion in assets under management, has bought 5% of its total valuation.
Major Investment and Future Plans
Shortly after meeting Michael Saylor, the co-founder of MicroStrategy Inc, Simon Gerovich, Metaplanet’s CEO, revealed that his firm has received new backing.
Capital Group, a major investor in MicroStrategy, is now the third-largest shareholder in Metaplanet.
Gerovich expressed his gratitude for Capital Group’s support as they continue to drive innovation and shape the future of finance.
Since adding Bitcoin to its balance sheet, Metaplanet has been investigating opportunities in the international capital market to boost its Bitcoin holdings.
Gerovich stated at the start of this year that the company aims to hold 10K Bitcoin by 2025.
As of now, Metaplanet owns approximately 1,762 BTCs, which accounts for 20.45% of its market cap.
Impact on Bitcoin and Web3 Industry
Metaplanet has been a strong advocate of the Bitcoin ecosystem through purchases and public education.
As a result of Metaplanet’s success with its Bitcoin strategy, the Web3 industry has grown into a robust ecosystem.
Bitcoin currently has a total value of over $6.5 billion and more than 742K daily active holders.
In the last two years, the price of Bitcoin has outperformed the altcoin industry.
The ongoing regulation of Bitcoin and the cryptocurrency industry globally, led by the United States and the European market, is expected to attract more institutional investors like Metaplanet.
It is reasonable to predict that the price of Bitcoin will continue to rise in the coming years, possibly overtaking Gold’s market cap of around $18 trillion.
Bitcoin is currently a $2 trillion digital asset backed by institutional investors, led by US spot BTC ETFs and soon nation-states.
The mainstream adoption of Bitcoin by institutional investors will also benefit altcoin projects with potential for future growth and practical utility.
According to Ki Young Ju, the founder and CEO of CryptoQuant, only a few altcoins with strong use cases and narratives will survive.
