🏨 What happened? Japanese Metaplanet, once a hotel developer, raised 10,000 BTC (~$947 million) after a new purchase of 1,112 coins for $117.2 million at an average of ~$105,435/bitcoin — now it surpasses Coinbase and enters the top-9 public BTC holders.
📈 How was it financed? They issued $210 million in zero-coupon bonds and plan to issue shares and warrants up to $5.3 billion. The goal is to reach 210,000 BTC by the end of 2027 (~1% of the total supply).
💥 Market reaction: Metaplanet's shares rose by 20-26% on the day of the announcement — investors value the purchase model at a premium above NAV, turning the Bitcoin treasury into a profitable asset.
🔍 **Why is this important?**
It enhances institutional trust in BTC: the Japanese company has become a copy of MicroStrategy, but in Asia.
Increased demand for cryptocurrency from public companies creates an additional fundamental driver.
On the other hand, the risk of excessive issuance of shares and bonds may reduce the NAV premium during a BTC drop.
