Key Points
- Metaplanet Inc. has received a significant investment from Norway’s Central Bank Fund to enhance its Bitcoin strategy.
- The Central Bank of Norway’s investment in Metaplanet is expected to boost its Bitcoin strategy and attract more investors.
Metaplanet Inc., a Japanese company, has been inspired by the success story of MicroStrategy Inc. Simon Gerovich, the CEO of Metaplanet, has been closely following the Bitcoin strategy of Michael Saylor, the CEO of MicroStrategy.
Recently, Metaplanet announced its plans to raise approximately $750 million through the global capital market. Following this announcement, Metaplanet revealed that Norges Bank, the Central Bank of Norway, has invested 0.55 percent in the company.
Norges Bank’s Investment
As a result of this investment, Norges Bank Investment Management now owns about $7 million of Metaplanet. Simon Gerovich anticipates that the bank, which manages $1.7 trillion in assets, will increase its investment in Metaplanet due to its potential growth through the Bitcoin strategy.
It’s worth noting that Norges Bank also owns approximately 0.72% of MicroStrategy’s stock market, which equates to slightly over $500 million.
Metaplanet’s Bitcoin Ambition
Metaplanet ended 2024 on a high note, attracting significant attention from major institutional investors like MicroStrategy. Besides Norges Bank, Metaplanet also received a significant investment from the Capital Group, which manages more than $2.7 trillion in assets.
Metaplanet recently announced its ambitious plan to accumulate over 21,000 Bitcoins by the end of 2026. The company stated that phase 1 of this ’21 Million Plan’ will involve raising up to ¥116 billion to purchase more Bitcoins.
Currently, Metaplanet holds about 1,762 Bitcoins, which accounts for approximately 15 percent of its market cap valuation. With the long-term vision of becoming a Bitcoin bank, Metaplanet’s shareholders are well-positioned to benefit from the rising adoption of digital assets and web3 protocols.
Impact on the Market
The increasing mainstream adoption of Bitcoin by institutional investors has significantly influenced nation-states. In the United States, more than 12 states, led by Wyoming, Utah, North Dakota, Texas, Florida, and Ohio, have already introduced proposals to implement a strategic Bitcoin strategy.
Moreover, more countries, led by the United States, are showing a willingness to establish a strategic Bitcoin reserve to manage their respective national debts.
As a result, the Bitcoin price is expected to continue to rise due to the increasing supply-demand shock. At the time of writing, the net supply of Bitcoin on centralized exchanges was around 2.17 million, down over 76k in the past 30 days.
