Japanese investment firm Metaplanet has moved up the ranks in the cryptocurrency market by surpassing Tesla in corporate Bitcoin holdings.
Recent Bitcoin Acquisition
Metaplanet purchased an additional 1,234 Bitcoins, bringing its total to 12,345 BTC valued over $1.3 billion at current prices. This acquisition cements the company's position as the seventh-largest corporate Bitcoin holder, making it the only Asian company among the top ten.
Metaplanet's Strategic Goals
Since shifting its focus to Bitcoin investments last April, starting with $6.5 million, Metaplanet now targets acquiring 21,000 BTC by the end of 2026, with growth objectives increased to 210,000 BTC by the end of 2027, representing one percent of the total fixed Bitcoin supply.
Funding for Aspirations
To meet these ambitious targets, Metaplanet plans to raise $5 billion in capital, primarily through equity warrants from its U.S. subsidiary, enhancing its access to American capital markets. Earlier this week, the company's shares surged tenfold, reflecting market optimism regarding its Bitcoin strategy.
Metaplanet's recent acquisition has significantly transformed the corporate landscape of Bitcoin ownership, strengthening its positions and setting new ambitious goals.
