Metaplanet has seen a big change at the top!
In a recent filing, the company confirmed a shift in its largest shareholder that could change its global Bitcoin strategy. The move comes as the company continues to expand its Bitcoin holdings and pursue growth initiatives in both the U.S. and Japan.
Here’s why this matters.
The disclosure reveals that Capital Group, the $2.6 trillion asset manager, has become the largest shareholder of Japan’s Bitcoin treasury firm Metaplanet by acquiring an additional 75.5 million MTPLF shares.
This increased its voting rights from 8.31% to 11.45%, surpassing National Financial Services LLC. Metaplanet CEO Simon Gerovich also shared the update on X. This move comes as Metaplanet’s stock faces significant decline, having dropped nearly 40% over the past month.
According to a report from The Wall Street Journal, Capital Group has turned a $1 billion position in Bitcoin-related stocks into over $6 billion over the past 4 years through stakes in companies like MicroStrategy and other Bitcoin treasury firms.
Its most notable stake includes over 12% stake in MicroStrategy in 2021, initially worth over $500 million. That stake now diluted to 7.89% has grown to over $6 billion, thanks to the explosive surge in Strategy’s stock over five years. Capital Group also owns shares of MARA Holdings.
The push into Bitcoin has been led by Mark Casey, a 25-year veteran portfolio manager. Influenced by Benjamin Graham and Warren Buffett, he has become a vocal Bitcoin advocate, calling it “one of the coolest things that has ever been created by people.”
Casey and some others at Capital Group expect Bitcoin’s price to rise over time, potentially matching or even surpassing gold.
This follows Metaplanet’s purchase of 5,419 BTC for roughly $633 million, its largest to date, bringing total holdings to over 25,500 BTC and ranking the company among the world’s top five corporate Bitcoin treasuries.
Metaplanet is also expanding its global Bitcoin presence with new initiatives in the U.S. and Japan.
It recently announced the launch of Metaplanet Income Corp. to grow its Bitcoin Income Generation business in the U.S, while it set up Bitcoin Japan Inc. to oversee media, events, and services and acquired the premium domain ‘Bitcoin.jp’.
Capital Group’s growing stake signals strong institutional confidence in Metaplanet’s strategy, while the company continues to scale its Bitcoin operations globally.
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