The Japanese investment firm 'Metaplanet' has strengthened its Bitcoin holdings by purchasing an additional 797 units for about 13.8 billion yen ($93 million), at an average price of approximately $117,000 per coin.
This brings the company's Bitcoin holdings to 16,352 Bitcoins, equivalent to about $1.64 billion, maintaining its position among the top five publicly listed companies holding Bitcoin, according to 'BitcoinTreasuries' data.
This expansion comes just one week after it purchased an additional 2,205 Bitcoins.
In 2023, 'Metaplanet' transitioned from hotel management to investing in Bitcoin, as the company seeks to achieve what its CEO, 'Girovich', described as a rapid escape by accumulating as much digital currency as possible, in a context similar to the rush for gold.
It was confirmed that the company does not intend to sell any of its Bitcoin holdings under any circumstances.
'Metaplanet' plans to reach a holding and accumulation of 210,000 Bitcoins by 2027, which would represent 1% of the total global supply.
The company seeks to use Bitcoin as a collateral asset to obtain financing to acquire income-generating companies, and possibly expand into digital banking services in Japan.
The company also clarified that it prefers to finance growth through issuing preferred shares instead of convertible debt, to avoid market volatility.
In the next phase, the company aims to offer premium digital banking services to individuals using Bitcoin-backed leverage, benefiting from the growing institutional interest in asset-based financing.
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