Metaplanet, a Tokyo-listed company, made headlines recently after acquiring 1,009 Bitcoin (BTC) for approximately $112 million. This strategic move has increased the company’s total Bitcoin holdings to 20,000 BTC, solidifying its position as Asia’s largest corporate Bitcoin holder. The acquisition was announced on Sept. 1, with Metaplanet paying an average price of 16.3 million yen ($110,720) per Bitcoin. This bold move comes as part of the company’s ambitious plan to add $2.8 billion worth of Bitcoin to its treasury by 2027.
During an Extraordinary General Meeting, Metaplanet’s CEO, Simon Gerovich, outlined the company’s plan to acquire 210,000 BTC by 2027, representing approximately 1% of Bitcoin’s total supply. This strategy involves issuing up to 555 million preferred shares, which could raise ¥555 billion ($3.8 billion) specifically for Bitcoin purchases. The EGM approved this multi-billion dollar strategy, making Metaplanet the sixth-largest BTC holder globally, surpassing Riot Platforms.
Eric Trump, who attended the meeting as a strategic advisor to Metaplanet, praised Gerovich’s leadership and the company’s decision to invest in Bitcoin. The approved preferred shares plan includes two classes of perpetual equity offerings. Class A shares will provide a 5% yield, competing with traditional fixed-income products, while Class B shares carry a higher risk but include conversion options into common stock.
Gerovich highlighted Japan’s unique position for Bitcoin-backed financing, citing the country’s lowest interest rates among G7 nations as a strategic advantage. The preferred shares are capped at 25% of the firm’s Bitcoin net asset value. This acquisition aligns with Metaplanet’s recent financial success, reporting profits of 11.1 billion yen ($75.1 million) in the second quarter, with Bitcoin income generation business contributing significantly to sales revenue.
Metaplanet’s upgraded status to mid-cap in FTSE Russell’s September review further solidifies its position in the market. The company’s goal to reach 210,000 BTC in its treasury would place it alongside Strategy on the list of companies holding at least 1% of Bitcoin’s total supply. With a clear vision and a strategic roadmap in place, Metaplanet is poised to continue its growth trajectory in the cryptocurrency market.
As Metaplanet expands its Bitcoin holdings and implements innovative financing strategies, the company is setting a new standard for corporate investment in the digital asset space. With strong leadership, a clear vision, and a commitment to growth, Metaplanet is well-positioned to capitalize on the evolving landscape of cryptocurrency and blockchain technology.