Japan’s Metaplanet Buys 797 Bitcoin as BTC Breaks Past $120K
Main Idea
Japan's Metaplanet has purchased an additional 797 Bitcoin, bringing its total holdings to 16,352 BTC, as part of its strategy to secure financing for broader expansion.
Key Points
1. Metaplanet's latest Bitcoin purchase of 797 BTC is worth around $96 million.
2. The company's total Bitcoin holdings now amount to 16,352 BTC, valued at nearly $2 billion.
3. Metaplanet's strategy mirrors that of MicroStrategy (MSTR), focusing on accumulating Bitcoin for treasury strengthening and broader expansion.
4. The company has utilized zero-interest bonds, stock acquisition rights, and U.S. capital markets, including a planned $5 billion injection into its Florida subsidiary, to fund Bitcoin purchases.
5. CEO Simon Gerovich mentioned the firm's focus on cash-generating businesses, particularly in digital financial services.
Description
Metaplanet, the largest corporate bitcoin (BTC) holder outside North America, has purchased an additional 797 BTC , worth around $96 million, bringing its total bitcoin holdings to 16,352. Simon Gerovich, CEO of the Tokyo-listed hotelier, recently told the FT that the firm aims to leverage these holdings as collateral to finance acquisitions of cash‑generating businesses, particularly in digital financial services. Metaplanet's strategy mirrors the blueprint used by Michael Saylor’s Strategy (MS...
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