The Japanese investment company 'Metaplanet' has boosted its Bitcoin holdings by purchasing an additional 797 units for about 13.8 billion yen (93 million dollars), at an average price of about 117,000 dollars per coin.
Thus, the company's Bitcoin holdings rise to 16,352 Bitcoins, equivalent to about 1.64 billion dollars, maintaining its position among the top five publicly traded companies owning Bitcoin, according to 'BitcoinTreasuries' data.
This expansion comes just one week after acquiring an additional 2,205 Bitcoins.
The company 'Metaplanet' shifted from hotel management to investing in Bitcoin in 2023, as it aims to achieve what its CEO, 'Girovich', described as a rush for escape by accumulating as much of the digital currency as possible, in a context reminiscent of the gold rush.
He confirmed that the company does not intend to sell its Bitcoin holdings under any circumstances.
Metaplanet plans to reach a holding and accumulation of 210,000 Bitcoins by 2027, which is equivalent to 1% of the total global supply.
The company aims to use Bitcoin as collateral to secure financing for acquiring income-generating companies, and possibly expand into digital banking services within Japan.
The company also clarified that it prefers to finance growth through the issuance of preferred shares rather than convertible debt, to avoid market volatility.
In the next phase, the company aims to provide premium digital banking services to individuals using Bitcoin-backed leverage, taking advantage of the increasing institutional interest in asset-based financing.
