#MetaplanetBTCPurchase Shares of the Japanese investment company Metaplanet jumped at market opening, after announcing a plan to raise $5.4 billion for the purpose of purchasing Bitcoin.
Metaplanet's stock (code: 3350T) rose by more than 12% in the trading session on June 9, as it traded at 1,505 yen ($10.42), according to Google Finance data. The stock peaked during the session at 1,641 yen ($11.36), an increase of 22%.
In a statement released on June 6 regarding the stock purchase rights program, the company updated its plan to acquire Bitcoin
BTC
106,652 US$
, raising its target from 21,000 Bitcoin to 210,000 Bitcoin by the end of 2027.
Metaplanet's stock rose by 24% over the past five days, following its announcement of plans to purchase larger amounts of Bitcoin. Source: Google Finance
If it succeeds in implementing this plan, Metaplanet will become the second largest publicly listed company in terms of Bitcoin holdings, after the company "Strategy" owned by Michael Saylor, according to Bitbo data.
Metaplanet's plan "555 Million"
Metaplanet currently holds 8,888 Bitcoin, following its recent announcement to purchase 1,088 Bitcoin on June 2.
Under its new plan called "555 Million", the company aims to acquire an additional 201,112 Bitcoin by 2027, at a cost exceeding $21 billion. It revealed its intention to hold 100,000 Bitcoin by 2026.
