Metaplanet raising $3.7 billion to buy bitcoin
Meanwhile, spot bitcoin ETFs recorded $301 million in outflows in August.
At an extraordinary general meeting on Monday, Metaplanet shareholders approved three resolutions, including increasing the total number of authorized shares to 2.5 billion and new provisions for perpetual preferred shares. This will enable Metaplanet to raise up to 555 billion yen ($3.7 billion) in preferred shares and use the proceeds to acquire more bitcoin.
Metaplanet also announced it had acquired 1,009 bitcoin for $112.2 million. The Japanese company, which now holds 20,000 bitcoin, surpassed Riot Platforms, becoming the sixth-largest corporate bitcoin holder.
Despite Metaplanet’s excitement, bitcoin ETFs finished August in the red, recording outflows of $301 million for the month. Ethereum ETFs saw $3.95 billion in inflows in August as the funds picked up momentum.
There was good news for some over the Labor Day weekend, especially for one lucky solo bitcoin miner who mined block 912,632 for a $340,441 haul.
Meanwhile, other treasuries added to their reserves:
Michael “Whoever Gets the Most Bitcoin Wins” Saylor announced that Strategy purchased 4,048 bitcoin for $449.3 million. The largest corporate bitcoin holder now has 636,505 bitcoin acquired for $46.95 billion.
French semiconductor company Sequans Communications acquired 34 bitcoin, now holding 3,205 bitcoin.
Diversified holding company Hyperscale Data announced it will add $20 million in bitcoin to its balance sheet, partly financed from its recently announced at-the-market offering of its common stock. The company’s subsidiary, Sentinum, owns and operates a data center mining several digital assets and offers AI colocation and hosting services.
