Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the recent purchase of Bitcoin by Metaplanet.
Metaplanet Buys Another 1,005 Bitcoin
The Japanese company Metaplanet have announced they have acquired 1,005 Bitcoin as part of a recent accumulation to take their total holdings to 13,350 Bitcoin. The company have overtaken Mike Novogratz’s Galaxy Digital, which holds 12,830 BTC, and BTC miner CleanSpark, with 12,502 BTC. In the process Metaplanet have become the 5th largest corporate Bitcoin holder.
Metaplant is a Tokyo-listed organisation and they have already overtaken Tesla with their corporate Bitcoin holdings. Their strategy is both aggressive and transparent and the latest purchase adds to their high-profile Bitcoin buying spree in the past months. The company publicly committed to building a substantial Bitcoin treasury but they did stress they view Bitcoin as more than just a treasury asset. They consider Bitcoin to be a strategic hedge against inflation and fiat currency devaluation.
The plan by Metaplanet was to accumulate 10,000 Bitcoin before the end of 2025, but they surpassed this mark on June 16. The company initially announced acquiring 21,000 Bitcoin by 2026 and later updated its treasury strategy, launching its sweeping “555 Million Plan,” and aiming to raise $5.4 billion to buy 210,000 Bitcoin by 2027. CEO Simon Gerovich announced on X:
“Just 3 months ago, we announced live at our shareholder meeting that we hit 3,350 BTC — and now we’ve added 10,000 more to reach 13,350 BTC.”
The stock price of Metaplanet rose by over 10% following the announcement of the Bitcoin acquisition. The company has seen its stock rise 53.5% in the last month and 370.7% year-to-date. When they first announced the ‘555 Million Plan’ the stock price fell, but it has quickly rebounded as they continue to purchase more Bitcoin.
https://x.com/Metaplanet_JP/status/1939519938110079335
Have a great day.
Peace. CryptoGod-1.
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