Norges Bank Backs Bitcoin Treasury Metaplanet Proposals
- Norges Bank Investment Management supports all five proposals from Metaplanet ahead of its extraordinary general meeting.
- The fund holds a Bitcoin treasury stake of 0.49% in Metaplanet and a $1.1 billion stake (1.05%) in MicroStrategy.
- Metaplanet aims to increase its holdings to reach a target of 100,000 BTC.
- Metaplanet stock closed at ¥404, up by 1.51%, with trading volume below the average of about 42 million shares.
- Bitcoin price fluctuated between $86,159 and $88,170, currently facing selling pressure near $86,682.
The backing from Norges Bank highlights its increasing interest in Bitcoin-focused strategies and positions Metaplanet as a significant player in corporate adoption of Bitcoin. This support may enhance investor confidence as the company prepares for its upcoming EGM.
With a recent stock increase of over nearly 15%, Metaplanet is poised to solidify its role in the cryptocurrency market amid ongoing price volatility.(Source)
