The Japanese investment firm Metaplanet has announced the acquisition of 1,234 BTC worth approximately $133 million, increasing its total reserves to 12,345 BTC.
Metaplanet's Bitcoin Strategy
With this latest purchase, Metaplanet has surpassed Tesla, which holds 11,509 BTC, becoming the fifth-largest corporate holder of Bitcoin as it continues its aggressive accumulation strategy. CEO Simon Gerovich tweeted about their elevation on the Bitcoin leaderboard: "1, 2, 3, 4, 5… lift-off. We just climbed past Tesla on the BTC leaderboard. Bolder. Faster. Harder. Elon Musk – meet you on Mars."
Metaplanet's $5.4 Billion Fundraising Plan
Recently, the company raised ¥74.9 billion (approximately $515 million) through the exercise of 540,000 stock-acquisition rights by its primary backer, EVO Fund, resulting in the issuance of 54 million new shares. This is linked to a proposed issuance of 555 million new shares to raise roughly $5.4 billion for future Bitcoin purchases, representing a 92% dilution of existing shares.
Future Plans of the Company
Metaplanet aims to accumulate 30,000 BTC by the end of 2025 and has set targets of reaching 100,000 BTC by 2026 and 210,000 BTC by 2027. Such levels of accumulation rival those of the company Strategy, which is currently the top corporate holder with over 592,300 BTC.
In conclusion, Metaplanet continues to actively build its Bitcoin reserves, following an ambitious strategy aimed at significantly increasing its presence in the cryptocurrency market.
