China News by Thebittimes.Com

Metaplanet gained shareholder approval to raise as much as $3.7 billion for more BTC buys, paving the way for a further expansion of its massive Bitcoin treasury. The shareholder vote at an extraordinary general meeting that was attended by Eric Trump clears the way for Metaplanet to issue up to 2.7 billion new shares and introduce a dual-class preferred stock system, giving it new fundraising options while limiting dilution for existing investors. While the approvals move Metaplanet closer to its goal, the company must still finalize issuance terms, secure regulatory clearance, and convince investors to back its buying plan in a challenging market. The Japan-based firm, already Asia’s biggest corporate BTC holder, has its sights set on accumulating 210,000 BTC by 2027. It currently holds 20,000 BTC, ranking sixth globally and ahead of companies like Tesla and Coinbase. Metaplanet Shares Tick Up After 13% Plunge In A Month The approvals from the company’s shareholders s...

Bitcoin fluctuated around $0.05 to $0.39 price level in 2010 and was mostly ignored by Wall Street and NYSE traders. They called it a passing fad that will have no value in the financial world, labelling it ‘magic internet money’. Not many dared to invest in cryptocurrency back then, as decentralized finance was a novice yet obscure concept. We cannot blame them either, as something new takes time to be accepted, especially if it’s finance-based; it takes longer to gain trust. Also Read: Bitcoin Will Replace USD As Global Reserve: Binance Founder CZ However, those who dared to invest in Bitcoin in 2010 have made millions and enjoy a life of financial freedom. The latecomers gained too, as BTC has soared over the years, making traders who did not take an entry position regret their choices. Post 2020, Wall Street and NYSE traders got into BTC, including trillion-dollar asset managers like BlackRock, VanEck, Fidelity, among others. The cryptocurrency is now a central par...