Metaplanet Plans to Buy $5.4 Billion Worth of BitcoinMetaplanet, a company once known for running hotels, has announced a big change. Under its CEO Simon Gerovich, the company plans to raise $5.4 billion by selling shares. This money will be used to buy over 210,000 Bitcoins by the year 2027 — about 1% of all Bitcoin that will ever exist.
This move is similar to what MicroStrategy, a major Bitcoin investor, has done. Metaplanet is now focusing heavily on Bitcoin instead of its old business.
The company will raise the money through something called the EVO FUND, starting in June 2025, over a period of two years.
This major decision could make $BTC more popular in the market. However, it also brings financial risks and may affect how the Bitcoin market behaves.