Tuesday, 02 January 2024 12:17 GMT

Metaplanet Amps Up Bitcoin War Chest With 5,268-Coin Acquisition


(MENAFN- The Arabian Post)

Metaplanet has added 5,268 Bitcoin to its treasury, lifting its total holdings to 30,823 BTC-a stash now worth roughly $3.5 billion. The move marks another aggressive step in the company's ambition to dominate corporate Bitcoin accumulation.

The Tokyo-listed firm disclosed the latest purchase via its analytics platform, citing an average cost per coin in the range of $116,800. With this transaction, Metaplanet fortifies its position among the largest public Bitcoin treasuries globally. The company has previously disclosed a 5,419-coin buy earlier in September.

Metaplanet's strategy, initiated in 2024 when it shifted from hotel and media operations into a Bitcoin-heavy treasury model, has relied heavily on capital raises and issuance of equity linked instruments. In early September, shareholders green-lit a plan to issue up to 550 million new shares overseas-raising about ¥130.3 billion -with proceeds earmarked in part for further BTC accumulation. Eric Trump, who serves on Metaplanet's advisory board, was present at the meeting and took part in a fireside chat session.

The company projects bold long-term goals: by 2026, it aims to reach 100,000 BTC, and by late 2027, to hold 210,000-about 1 percent of total Bitcoin supply.

Despite its crypto focus, Metaplanet's stock performance has been volatile. Since mid-June, the share price has fallen sharply-losing over 50 percent-reflecting investor concern over dilution risk, weak revenue fundamentals, and compressed valuation premiums compared to its Bitcoin holdings.

Analysts caution that Metaplanet's heavily leveraged approach leaves it vulnerable. Should Bitcoin's price fall, the firm could see large mark‐to-market losses or face funding constraints if markets turn against inflows. Still, Metaplanet argues its“Bitcoin yield” metric-growth in BTC per share-aligns incentives for equity holders to back continued accumulation.

See also Gemini Launches Local Crypto Platform in Australia

The company also is diversifying its strategy. It has launched a U. S.-based subsidiary in Miami to manage derivatives and income-generation business lines, and is developing digital platforms rooted in Bitcoin.

Arabian Post – Crypto News Network

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