By the end of 2027, Metaplanet intends to purchase 210,000 Bitcoin, making it the second-largest Bitcoin holder among publicly traded corporations.
Following the announcement last week that it would raise $5.4 billion to purchase Bitcoin, the Japanese investment firm Metaplanet’s shares surged on the market opening.
According to Google Finance, Metaplanet’s stock (3350T) surged more than 12% during the June 9 trading session, closing at 1,505 yen ($10.42). Nevertheless, Metaplanet’s stock surged 22% to a high of 1,641 yen ($11.36) at the height of the trading session.
Metaplanet upgraded Bitcoin In a June 6 stock acquisition rights program announcement, BTC$105,629 wants to purchase 210,000 BTC by the end of 2027, raising its initial goal of 21,000 BTC.
According to Bitbo data, if the deal is successful, Metaplanet will rank second among publicly traded firms in terms of Bitcoin holdings, behind Strategy, which Michael Saylor owns.
The “555 million” proposal of Metaplanet
Following the announcement of its most recent acquisition of 1,088 Bitcoin on June 2, Metaplanet currently owns 8,888 Bitcoin.
By 2027, the company will have to spend more than $21 billion to purchase 201,112 as part of its new 555 million plan. Metaplanet has stated that it intends to hold 100,000 Bitcoins by 2026.
With no specific plans for additional purchases, Metaplanet’s 21 million plan previously called for it to own 21,000 Bitcoin by the end of 2026.
When Metaplanet first revealed on July 22, 2024, that it had purchased Bitcoin, its stock increased 19% to 173 yen ($1.10). The stock price has risen by more than 1,744% since its initial purchase.
Strategy is at the forefront.
Bitcoin has been added to the balance sheets of many businesses; on June 4, the South Korean entertainment company K Wave Media became one of the most recent.
According to Bitbo data, corporate Bitcoin treasuries own more than three million Bitcoins, or more than $342 billion, out of the more than 19 million presently in circulation.
According to a June 3 Standard Chartered analysis, 61 publicly traded companies currently own a combined 3.2% of all Bitcoin that will ever exist due to the Bitcoin reserve strategy trend.
The stock’s performance following Bitcoin purchases was mixed.
Following the announcement of their plans to purchase Bitcoin, the stock prices of other corporations have also increased. Blockchain Group, a cryptocurrency company in Paris, began purchasing Bitcoin on November 5 and saw a 225% increase in its stock price to 0.48 euros ($0.52).
DigiAsia Corp., a fintech company based in Indonesia, announced plans to raise $100 million to seed its first of many Bitcoin purchases, which caused its shares to nearly double, jumping 91%.
But not everyone has noticed the increase. K33, a Norwegian cryptocurrency brokerage, declared on May 28 that it intended to purchase and keep the coin; however, its share price was flat, down 1.96%.
After the video game retailer Gamestop announced that it would purchase Bitcoin, its stock shot up about 12% on March 26. On May 11, however, it fell 11% after the retailer bought 4,710 Bitcoin for the first time.
