Japanese company Metaplanet has announced an additional $5 billion for building a Bitcoin treasury through its U.S. subsidiary.
New Investment Phase for Metaplanet
Metaplanet has allocated an extra $5 billion for purchasing Bitcoin. These funds will be utilized through its wholly-owned U.S. subsidiary trading under the ticker MTPLF. This initiative is part of the firm's more aggressive strategy.
Bitcoin Accumulation Plan
Metaplanet aims to acquire 30,000 BTC by the end of 2025 and hold 210,000 BTC by the end of 2027, which constitutes 1% of Bitcoin's total supply. This strategy is dubbed the '555 Million Plan', first announced on June 6.
Market Response and Investor Interest
Recently, MTPLF stocks displayed mixed performance. After climbing to $15 in May, the stock dropped 6% to $11.64. However, significant investors like Citigroup and Capital Group recently acquired 1 and 2 million shares respectively, indicating strong institutional interest.
With an additional $5 billion on the table, Metaplanet continues to expand its Bitcoin presence despite recent fluctuations in stock prices.
