Sora aims to buy $1 billion in bitcoin in the next six months
Japanese company Metaplanet already holds over $2 billion in bitcoin.
Sora Ventures announced the launch of what it says will be “Asia’s first $1 billion bitcoin treasury fund,” and aims to acquire all that bitcoin within the next six months. Sora differentiated itself from other Asian treasury companies such as Japanese company Metaplanet, which is currently the largest publicly listed bitcoin holder in Asia, holding 20,000 bitcoin it acquired for $2.06 billion. Sora said in a press release:
While those companies hold bitcoin directly on their own balance sheets, the Sora Ventures treasury fund will act as a central pool of institutional capital designed to both support these existing firms and fuel the creation of similar treasuries globally.
Meanwhile, Metaplanet shareholders approved three resolutions on Monday, including increasing the total number of authorized shares to 2.5 billion and new provisions for perpetual preferred shares. This will enable Metaplanet to raise up to ¥555 billion ($3.7 billion) in preferred shares and use the proceeds to acquire more bitcoin.
In other bitcoin mining and treasury news:
Strategy and bitcoin fans are getting excited about the possibility that the S&P 500 could announce the company’s inclusion later today. Bloomberg reported that “a $14 billion unrealized gain last quarter delivered the profitability required for index eligibility, at least in theory, under current rules.”
Bitcoin miner MARA Holdings announced it produced 705 bitcoin in August, compared to 703 in July. MARA, the second-largest corporate bitcoin holder, said it took advantage of bitcoin’s price decline and bought the dip. It now holds 52,477 bitcoin and “opted not to sell any BTC in August.”
Publicly traded bitcoin mining company Cipher Mining announced it produced 241 bitcoin in August, compared to 214 bitcoin in July. It also said it acquired more bitcoin and now holds 1,414 bitcoin, up from 1,219.
Public company Figma which just released its first earnings since its IPO, added 177 bitcoin and now holds 767 bitcoin.
