Japanese investment company Metaplanet is looking to raise 555 billion yen ($3.73 billion) through new share offerings to support its aggressive Bitcoin accumulation strategy.
The company, known as the “Asian Strategy,” announced on Friday it will issue permanent preferred shares to fund its target of acquiring 210,000 Bitcoin (BTC) by the end of 2027.
“The company plans to actively pursue stock financing as part of its “Bitcoin strategy” aimed at obtaining 210,000 BTC by the end of 2027,” he said. “We believe that introducing Bitcoin-backed preferred stocks is a pioneering effort to close this gap.”
Related: “Apple needs to buy Bitcoin,” says Saylor.
Metaplanet’s share offering came the day after Cointelegraph reported that the company’s cryptocurrency firm exceeded its $100 billion collective investment, with the Bitcoin-centric Treasury accumulated value worth $93 billion.
Based on the correlation between Bitcoin and the Global M2 Money Supply, the ongoing accumulation of companies from strategies and metaplanets could potentially exceed Bitcoin’s price of $132,000 by the end of 2025.
Strategy, the world’s largest Bitcoin finance company, has also launched similar capital efforts. On July 22, the company announced a new type of Bitcoin-backed stock, fixed at $100 per share, with an initial monthly dividend of 9% per year.
Related: Satoshi-era $97b Bitcoin OG: Galaxy moves another $1.1 billion in exchange
Bitcoin’s next macro catalyst is visible and hidden
Despite the illiquid period characteristic of summer time, Bitcoin’s next important financial catalyst could soon emerge in September.
As Washington heads for a summer break, “If Congress reopens after Labor Day, September 2nd, attention is likely to turn into a fiscal issue,” according to a Matrixport investigation report on Friday.
“Fiscal uncertainty has historically been a strong tailwind for hard assets, and Bitcoin remains at the forefront and center of the story.”
Despite the importance of Crypto Week and the continued accumulation by Crypto Treasury companies, “actual macro drivers are conspicuously hidden,” the report added.
Meanwhile, the market is currently priced at a 60.8% chance that the Fed Reserve will remain stable during the next Federal Open Market Committee meeting on September 17th, according to the latest estimates from CME Group’s FedWatch tool.
https://www.youtube.com/watch?v=alc2u0ynfca
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