Ethereum

Shift

Bitcoin

Verge

<ul>
 <li>In total, the acquisition of 161.3 BTC till now by Metaplanet is valued at 1.65 billion yen.</li>
 <li>The average buying price for one bitcoin from the firm is 10,231,438 yen, or $62,741.</li>
</ul>
The Japanese investment firm Metaplanet purchased $1.2 million worth <a href="https://thenewscrypto.com/bitcoin-btc-shoots-5-rally-a-sign-of-rebound/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>. Thus, adding to its recent spree of buying Bitcoins. In total, the acquisition of 161.3 Bitcoin (BTC) till now by Metaplanet is valued at 1.65 billion yen.&nbsp;
The average buying price for one bitcoin from the firm is 10,231,438 yen, or $62,741. In June, Metaplanet used a strategy similar to <a href="http://microstrategy.com" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a> and issued a $7 million bond to finance Bitcoin acquisitions. This move follows in the same vein.
Moreover, with the value of the yen falling, Japanese companies may be taking steps like <a href="https://thenewscrypto.com/metaplanet-expands-bitcoin-holdings-with-6-25-million-purchase/" target="_blank" rel="noopener noreferrer nofollow">Metaplanet’s</a> to hedge their bets against more currency depreciation.
<h3 class="wp-block-heading" id="h-major-strategic-shift">Major Strategic Shift</h3>
A watershed moment has arrived for Metaplanet. As its shareholders have recently adopted a number of important proposals at a general meeting. The leadership, share structure, and fundamental direction of the firm will be altered as a result of the choices taken on June 28, 2024.
A significant change in Metaplanet’s trajectory was signaled by the approval of four key agenda items at the June 28, 2024, extraordinary general meeting of shareholders. As a first step, the company’s Articles of Incorporation were revised to reflect its revised strategic objective on the use of Bitcoin for treasury management.
A share consolidation plan was also accepted by the shareholders. This plan would reduce the total number of authorized shares to 22,823,794 and consolidate 10 common shares into 1. The plan is set to take effect on August 1, 2024. But the meeting also green-lit a 65 million share increase to the total authorized shares, increasing the company’s power to issue shares.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/is-ethereum-eth-on-the-verge-of-a-price-correction/" target="_blank" rel="noopener noreferrer nofollow">Is Ethereum (ETH) on the Verge of a Price Correction?</a>

Japan’s Metaplanet Buys $1.2M Worth Bitcoin, Signals Major Strategic Shift

Table of Contents

TheNewsCrypto

Other articles published on Jul 1, 2024

Will Qubetics Whitelist be the Game-Changer Amid Avalanche and Internet Computer’s Bearish Strugg...

Bitcoin (BTC) Shoots 5% Rally, a Sign of Rebound?

VeChain (VET) Surges 11% in a Week: Analysts Predict Further Gains

Here’s How Much Bitcoin Price Can Surge In July, Top Analysts Weigh In

Bitcoin Nears $64,515 Resistance: Will A Breakthrough Ignite A Bullish Run?

BTC, ETH and XRP Price Prediction for July 1

Join our free newsletter for daily crypto updates!