Japanese company Metaplanet recently announced its acquisition of 1,005 Bitcoins for $108 million, making it the fifth largest BTC holder globally.
Metaplanet's Bitcoin Purchase
Metaplanet acquired 1,005 BTC for a total of $108 million, increasing its stash to 13,350 BTC. This move has significantly strengthened the company’s position in the cryptocurrency market.
Company's Accumulation Strategy
The company raised $208 million through the issuance of zero-interest bonds to finance Bitcoin purchases. Part of these funds will also be used to buy back and cancel old debts with low rates. This strategy allows Metaplanet to effectively increase its assets.
Market Impact and Forecasts
The Bitcoin purchase led to a 9% increase in Metaplanet's stock in just one day and over 350% rise since the start of the year. The company is aiming to accumulate up to 100,000 BTC by 2026 and 210,000 BTC by 2027, potentially making it the second-largest holder after MicroStrategy.
Metaplanet's strategy for increasing its Bitcoin assets and utilizing institutional approaches may significantly influence the cryptocurrency market in the coming years.
