Tokyo-based Metaplanet Inc. has announced a bold plan to raise approximately $5.4 billion through a stock acquisition rights program, which the company claims is the largest in Japanese capital markets history. The company has stated that it will buy a lot more Bitcoin.
The news sent Metaplanet’s shares soaring, climbing as much as 22% on Monday morning in Tokyo, according to Bloomberg data. The stock has been notably volatile since the company shifted its focus to cryptocurrency in early 2024, mirroring a strategy popularized by MicroStrategy, the software firm led by Michael Saylor, which has amassed over $60 billion in Bitcoin.
Right now, they own 8,888 Bitcoin, but their new plan is to own 210,000 Bitcoin by the end of 2027. It also aims to buy 21,000 Bitcoin by the end of 2026. Then, they changed it to 100,000, and now they have made it even bigger with the 210,000 target. Metaplanet could hold about 1% of all Bitcoin in circulation if successful.
Metaplanet is one of many big companies around the world that have started to buy bitcoins. This shows that big businesses are getting more interested in Bitcoin. A new company called Twenty One Capital Inc., supported by other big names like Cantor Fitzgerald, Tether, and SoftBank, started with almost $4 billion worth of Bitcoin.
Recently, Trump Media & Technology Group, which runs Truth Social, has raised $2.32 billion to create its own Bitcoin collection. These initiatives by Metaplanet highlight that more and more companies are seeking Bitcoin as a valuable thing to own.
Also Read: XRP Lawyer Says Buying Bitcoin at $106K Is Safer Than $25K
