Metaplanet Prepares IDR 1 Trillion Fund For Bitcoin Nyerok

Metaplanet, a Japanese company plans to push Bitcoin. (Photo; Doc. Forkast)

JAKARTA - A Japanese technology company, Metaplanet, has again shown its interest in Bitcoin crypto assets. The company, which is attracted to crypto assets made by Satoshi Nakamoto, plans to disburse fresh funds of IDR 1 trillion to increase Bitcoin ownership. This step further strengthens the position of Metaplanet as one of the technology companies that is actively investing in the crypto market.

In an official statement, Metaplanet stated that the funds would be allocated specifically to acquire Bitcoin in the open market. This decision was taken following the company's success in accumulating Bitcoin in recent months. Previously, the Metaplanet managed to raise 245 BTC, which is equivalent to around 13.7 million US dollars (approximately Rp205.5 billion) since April 2024.

In an official announcement, Metaplanet said it would offer up to 10 billion yen or about 69 million US dollars (Rp1 trillion) in the form of unregistered share acquisition rights to ordinary shareholders. Of these, about 8.5 billion yen or the equivalent of 59 million US dollars (Rp885 billion) will be allocated specifically for further investment in Bitcoin.

With Bitcoin prices currently in the range of $54,000 per coin, this new investment could increase Metaplanet's Bitcoin holdings to more than 1,200 BTC.

Previously, the Bitcoin wholesale action carried out by Metaplanets last July showed the company's courage in dealing with market fluctuations. Even though the price of Bitcoin has fallen, the Metaplanet remains optimistic about the long-term prospects for this most popular cryptocurrency.

Metaplanet's Stock Price Soars Sharply

Since announcing its business shift from property and hotel development to Bitcoin investment in April 2024, the value of Metaplanet shares has soared to 192.27% so far this year, despite a 20% drop in the past month. This shift initially caused the company's shares to soar by around 89%.

In recent months, the Metaplanet has consistently increased its Bitcoin holdings. On July 22, 2024, the company acquired 20.38 BTC at an average price of 62,800 US dollars (approximately Rp942 million) per coin, adding about US$1.3 million (approximately Rp19.5 billion) to its portfolio. This is the fourth investment of the Metaplanet in Bitcoin in just one month.

Metaplanets are not the only entities in Japan to enter the crypto world. Tech giant Sony recently acquired crypto finance firm Amber Group and will revive the WhaleFin crypto exchange under the new name, S.BLOX. The move is expected to provide a major boost to the domestic crypto industry in Japan.