Metaplanet, a Tokyo-based investment firm, announced the acquisition of 1,111 additional Bitcoins, increasing their total holdings to 11,111 BTC as part of their growth strategy.
Acquisition of Additional Bitcoins
Metaplanet Inc. announced the purchase of 1,111 BTC for $118.2 million. This acquisition raised their total Bitcoin holdings to 11,111 BTC, with the aggregate value exceeding $1.07 billion.
Strategic Goals of the Company
CEO Simon Gerovich stated, "We are on track to reach our target of holding over 210,000 BTC by 2027, aiming for 1% of the total supply." Metaplanet has been actively increasing its Bitcoin investments since April 2024.
Market Reactions and Investor Sentiments
Following the acquisition announcement, Metaplanet's shares dipped by 3.5%, indicating investor caution. Despite this decline, the company maintains a significant position among corporate Bitcoin holders, showcasing a willingness to integrate Bitcoin into their corporate treasuries.
Metaplanet continues to expand its Bitcoin reserves, highlighting its commitment to growth in the cryptocurrency market. The company's strategy may draw attention to Bitcoin holdings among other major players.
