As a seasoned crypto investor with over a decade of experience, I’ve witnessed the rollercoaster ride that is the cryptocurrency market. The recent announcement by Metaplanet Inc (TYO: 3350) to join the Bitcoin for Corporations initiative caught my attention, as it signifies a significant step forward in mainstream adoption of Bitcoin.
Within a week of the launch, Metaplanet Inc (TYO: 3350), a Japanese investment firm, revealed its involvement as an original member of Bitcoin for Corporations. This initiative was presented by Bitcoin Magazine and MicroStrategy Inc (NASDAQ: MSTR) at the recently concluded Bitcoin Conference with the aim of promoting Bitcoin use amongst institutional investors.
*Metaplanet joins Bitcoin for Corporations Initiative*
— Metaplanet Inc. (@Metaplanet_JP) July 30, 2024
Expanding the Bitcoin for Corporation Initiative
1) A strategic alliance between Corporation aims to provide a wealth of resources, educational materials, and networking platforms for business executives venturing into the Bitcoin sector. These resources will encompass carefully selected content, regular newsletters, and case studies from industry pioneers who have implemented corporate Bitcoin strategies previously.
Furthermore, this encompasses the delivery of customized resources for C-level executives, an organized communication strategy, and exclusive invitations to yearly face-to-face meetings. It symbolizes a collaborative initiative aimed at promoting the widespread use and understanding of Bitcoin on a global scale.
Mike Germano, President of Bitcoin Magazine expressed his excitement about collaborating with MicroStrategy to introduce “Bitcoin for Corporations.” This partnership aligns perfectly with our goal to inform and empower the Bitcoin community. By extending this objective to corporations, we’re fortunate to have MicroStrategy as esteemed partners in this endeavor.
1. This initiative aims to capitalize on the unique capabilities of both Bitcoin Magazine and MicroStrategy, merging them to establish a sturdy platform encompassing resources and networking opportunities for firms at varying stages in their Bitcoin journey. It’s worth mentioning that MicroStrategy has already incorporated a “Bitcoin for Corporations” track into its global conference lineup.
This latest collaboration with Bitcoin Magazine is an expansion of the existing initiative.
Bitcoin Adoption Grows beyond Metaplanet
1. Beginning this year, the adoption of Bitcoin has seen a considerable surge, largely due to the debut of spot Bitcoin Exchange-Traded Funds (ETFs). The entrance of esteemed investment management firms such as BlackRock Inc., Fidelity Investments, Grayscale Investments, and others, has bolstered credibility within the crypto sector, making Bitcoin more appealing to institutional investors.
At the opening of the Bitcoin Conference, Jersey City Mayor Steven Fulop announced intentions to invest a portion of the city’s pension funds into Bitcoin Exchange-Traded Funds (ETFs). This move comes on the heels of impressive performance from spot Bitcoin ETFs over the previous six months. Similarly, in Q2 2024, the Wisconsin Pension Fund decided to invest 2% of its $156 billion assets into these same Bitcoin ETFs.
In the end, Metaplanet’s choice to be part of this initiative signifies its determination to enhance its Bitcoin influence. For the past two months, this Japanese company has aggressively pursued buying more Bitcoins. Their frequent acquisitions suggest that Metaplanet has taken a cue from MicroStrategy’s approach to Bitcoin.
14 days past, Metaplanet procured 21.88 Bitcoins for around 200 million Japanese Yens (equivalent to roughly 1.2 million US dollars). At present, Metaplanet owns over 225.6 Bitcoins in its possession.
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2024-07-30 14:38