Metaplanet is one of 210k Capital’s largest holdings. The publicly traded hotel operator turned Bitcoin buyer, often referred to as Asia’s MicroStrategy, represents about a quarter of its portfolio.
The fund paid $1 million for warrants that it later converted into common stock, which is now worth about $106 million. Before Metaplanet’s strategic shift, 210k Capital managed just $44 million.
The fund is now targeting markets without spot Bitcoin ETFs, including India, South Korea, and countries in Southeast Asia and Latin America. “Those are all opportunities that we’re very eager on, that we hope to be able to announce a deal in soon,” Evans said.
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