Japanese investment firm Metaplanet has significantly expanded its Bitcoin assets, acquiring an additional 1,112 BTC valued at approximately $117 million.
This strategic purchase elevates Metaplanet’s total Bitcoin holdings to 10,000 BTC, achieving its accumulation target for the year well ahead of schedule.
Simultaneously, the company announced a plan to issue $210 million in zero-coupon bonds. This capital raise is designated specifically to fund further substantial Bitcoin acquisitions in line with its previously established three-year strategy.
Metaplanet’s current Bitcoin portfolio has generated a notable year-to-date return of 266.1%, reflecting the cryptocurrency’s appreciation against its reported average acquisition cost of $94,697 per BTC.
Investor confidence in the firm’s Bitcoin-centric strategy was evident, with its stock price surging over 20% to 1,815 yen on the day of the announcements.
Looking ahead, Metaplanet has outlined ambitious expansion goals: aiming to hold 100,000 BTC by the conclusion of the next year and scaling rapidly to 210,000 BTC by the end of the subsequent year. This significant growth trajectory is slated to be supported by a future planned equity raise of $5.4 billion.