Japanese investment firm Metaplanet has announced that its total holdings in Bitcoin have reached 10,000 BTC following a recent purchase.
Recent Purchase by Metaplanet
Metaplanet CEO Simon Gerovich announced the acquisition of 1,112 BTC for $117.2 million at an average price of $105,435 per Bitcoin. This increase to 10,000 BTC has made the company the ninth largest holder of Bitcoin among publicly traded firms, surpassing cryptocurrency exchange Coinbase.
Company Strategy
Earlier, Metaplanet announced a revised target to hold over 210,000 BTC by the end of 2027, aiming to achieve 1% of the total Bitcoin supply. To reach this target, the company will need to acquire an additional 200,000 BTC over the next 18 months.
Funding Further Purchases
To finance additional Bitcoin purchases, Metaplanet plans to raise up to $5.3 billion through the issuance of 555 million new shares over the next two years. It was also announced that the board resolved to issue an 18th series of bonds amounting to $210 million for EVO Fund.
Metaplanet continues to aggressively expand its Bitcoin assets, with further purchasing plans and strategic moves aimed at achieving its ambitious goals in the cryptocurrency space.
