Japan’s leading Bitcoin treasury firm Metaplanet has announced another major purchase, acquiring 1,009 BTC for 16.48 billion yen ($112 million). The company now holds a total of 20,000 BTC, less than three months after surpassing the 10,000 BTC mark.
Sixth Largest Public Bitcoin Treasury
According to Bitcointreasuries.net, the new purchase makes Metaplanet the sixth-largest public Bitcoin treasury company, likely surpassing Riot Platforms. The company has revised its year-end goal from 10,000 BTC to 30,000 BTC, highlighting its aggressive accumulation strategy.
Strategic Funding Plans
Metaplanet revealed plans to raise 130 billion yen ($880 million) through an international share offering, with most of the proceeds allocated to Bitcoin purchases over the next two months. CEO Simon Gerovich also mentioned the possibility of borrowing against Bitcoin reserves to acquire cash-generating businesses.
Market Reaction
Despite the announcement, Metaplanet’s Tokyo-listed stock dropped 2.62% on Monday, as reported by Yahoo Finance. Meanwhile, U.S.-listed shares closed last Friday at $6.11, up 0.83%, according to The Block’s MTPLF price page.
The Road Ahead
Metaplanet’s commitment to Bitcoin positions it as a major player in corporate adoption of digital assets. Should the company achieve its 30,000 BTC target by year-end, it may rise further in global rankings of Bitcoin treasuries.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
