Metaplanet continues to aggressively increase its Bitcoin holdings, recently adding 1,005 BTC to its portfolio. These actions highlight the company's strategic position in the cryptocurrency market.
New Bitcoin Purchases
The company Metaplanet recently acquired 1,005 BTC for $108 million. This purchase increased the company's total reserves to 13,350 BTC, making it one of the top five Bitcoin holders globally. According to the company, the average acquisition price was $107,601 per BTC.
Funding Strategy through Bonds
Metaplanet is using creative methods to fund its Bitcoin purchases. Following the recent acquisition, the company issued $208 million in zero-interest bonds to expand its purchasing power in Bitcoin. Part of the raised funds will go towards repaying previous debts, allowing the company to maintain financial flexibility.
Metaplanet's Future Goals
The company has ambitious plans to reach 210,000 BTC by 2027. Metaplanet has already raised its target to 100,000 BTC by 2026, significantly increasing its previous target of 21,000 BTC. The company plans to use its US subsidiary to further expand its reserves.
Metaplanet is showing determination in increasing its Bitcoin holdings, indicating its intentions to become a major player in this market. The company's current situation and expansion plans will be closely monitored by both investors and analysts.
