Capital Group Acquires 5% Stake in Bitcoin Firm Metaplanet
Investment manager Capital Group strengthens its position in the crypto sector with a new investment in Metaplanet.
Overview
Los Angeles-based Capital Group, a major investment firm overseeing $2.3 trillion in assets, has recently heightened its investment in the cryptocurrency market by acquiring a 5% stake in Metaplanet.
Key Insights
- Capital Group is now among the top shareholders in Metaplanet.
- Metaplanet has notably pivoted from hotel investments to a significant bitcoin treasury strategy resembling that of MicroStrategy’s.
Details
Metaplanet, headquartered in Japan, has gained recognition for its significant bitcoin holdings, currently with 1,762 BTC. Over the past year, since implementing its bitcoin treasury strategy, their stock value has surged more than 1,700%.
Capital Group is also the second-largest shareholder in MicroStrategy, holding 18.4 million shares (over 8% stake). The largest stake at MicroStrategy belongs to its founder Michael Saylor.
Further Reading
MicroStrategy Added 2,530 Bitcoin for $243M
Note: The CEO of Metaplanet, Simon Gerovic, remarked about Capital Group's increased stake on social media.
