Metaplanet Inc., a Japanese company, has significantly increased its market cap, surpassing Kioxia Holdings and reaching a valuation of $6.9 billion.
Metaplanet's Market Cap Surge
On Monday, Metaplanet announced a rise in its market capitalization to ¥1 trillion ($6.9 billion) after its stock surged nearly 400% over two months. This increase has allowed the company to surpass well-known Japanese manufacturers like Screen Holdings and Tokyo Metro.
Recent Bitcoin Investments
The latest 26% jump followed Metaplanet's disclosure of a ¥16.9 billion Bitcoin purchase. This acquisition was financed by newly issued bonds totaling $210 million, set to mature in December but can be redeemed earlier.
Bitcoin Accumulation Strategy until 2027
Metaplanet started acquiring Bitcoin in May last year amid Japan's economic struggles. The company aims to grow its reserves to 30,000 BTC by the end of this year and has set a target of accumulating at least 210,000 BTC by 2027.
Thus, Metaplanet continues to confidently bolster its Bitcoin assets, attracting interest and skepticism in the market.
