- Metaplanet now holds 12,345 BTC after its latest purchase, overtaking Tesla as the seventh-largest corporate Bitcoin holder.
- The firm plans to raise $5 billion through equity warrants, marking Japan’s largest issuance of its kind to date.
- Metaplanet targets 210,000 BTC by 2027, aiming to own one percent of the total Bitcoin supply.
Tokyo-based investment firm Metaplanet has purchased an additional 1,234 Bitcoins, raising its total to 12,345 BTC. The announcement came on Thursday, marking a significant step in the firm’s ongoing strategy to expand its cryptocurrency reserves. With this move, Metaplanet now holds approximately $1.3 billion in Bitcoin based on current market prices.
This recent acquisition has placed Metaplanet as the seventh-largest corporate holder of Bitcoin globally. The firm has now overtaken Tesla and Canadian miner Hut 8. Notably, Metaplanet remains the only Asia-based company within the top ten corporate Bitcoin holders worldwide.
Rapid Growth Since Pivot in 2024
Metaplanet shifted its business focus from hospitality to Bitcoin investment in April 2024. Its first purchase totaled around $6.5 million. Since then, the company has tirelessly been on an acquisition spree with the proceeds of the bond sales and placements and capital raising. The expansion supports its long-term Bitcoin plan and the desire to move to a big player in the institutional space of the crypto market.
Earlier this month, Metaplanet revealed plans to raise $5 billion to continue building its Bitcoin portfolio. The company will primarily use equity warrants issued through its Florida-based subsidiary. This is the biggest issuance of equity warrants by a Japanese company yet. The company has plans to own a total of 21,000 BTC by the end of 2026. A higher goal is imposed in 2027 where Metaplanet aims to collect 210,000 BTC, which would comprise 1% of the total supply of Bitcoin.
Stocks Rise On Bitcoin Plan
The shares of the company have increased by a double-digit percentage earlier this week, as investors believe in the strategy of the company to focus on the cryptocurrency segment. Significantly higher in its earlier estimates, the next significant milestone of the company will be the 100,000 BTC by the end of 2025.
The change highlights a significant change in its roadmap and places Metaplanet as one of the critical players in the international Bitcoin market.
