Metaplanet Targets US$5.3 Billion to Buy Hundreds of Bitcoin
Metaplanet, a Japanese investment company, announced a new strategy with the issuance of 555 million shares worth US$5.3 billion. This is done to buy more Bitcoin.
"On behalf of the shareholders, we will carefully and quickly accumulate as much Bitcoin as possible," wrote Metaplanet in its official statement.
Metaplanet has expanded its Bitcoin accumulation target from previously 21,000 Bitcoin to 210,000 Bitcoin by the end of 2027. Meanwhile, Metaplanet is collaborating with EVO Fund, a share issuer in Japan, to execute this strategy.
As a company dubbed the Asian version of Strategy (MSTR), Metaplanet currently holds 8,888 Bitcoin worth US$934 million. This means that in this way, Metaplanet aims to own 1% of the Bitcoin supply in the world.