Metaplanet’s Simon Gerovich has revealed his plans to ensure that the firm buys around 10,000 Bitcoins by year-end.
According to his X post, by year’s end, Metaplanet CEO Simon Gerovich plans to use value-added capital market tools to reach 10,000 bitcoin holdings.
As of right now, the firm has 1,762 Bitcoins in its reserve. The tweet led to stock price of Metaplanet to rise by 2.74% to 3,575Â JPY.
Gerovich Lays Down Plan for 2025
Apart from the Bitcoin reserve increase, the firm is also planning to increase shareholder involvement and transparency by implementing new projects.
Additionally, Gerovich mentioned that the firm wants to “Make use of our alliances to promote Bitcoin acceptance in Japan and around the world.”
The firm also hopes to examine cutting-edge possibilities to increase Metaplanet’s influence in Japan and the Bitcoin community.
MetaPlanet’s Previous Bitcoin Buy
MetaPlanet made a significant cryptocurrency purchase on December 23rd, purchasing 619.70 Bitcoin (BTC) for an estimated $60.66 million.
At an average price of $97,901 per Bitcoin, the strategic acquisition marked a substantial increase in the company’s holdings of digital assets.
Additionally, in order to bolster its capital operations, Metaplanet had also disclosed intentions for further private bond offerings, possibly raising 5 billion yen.
With a reference to U.S.-based MicroStrategy, a business known for large-scale Bitcoin investment, this audacious step underlines Metaplanet’s ambition to establish itself as a major participant in the cryptocurrency market.
MetaPlanet’s Growing Interest in Bitcoin
The corporation entered the cryptocurrency market in May 2024 after deciding to use Bitcoin as a tactical hedge against market fluctuations.
Over the past year, Metaplanet has gradually grown its holdings, motivated by MicroStrategy’s success using Bitcoin as a reserve asset. Its increasing trust in the asset’s long-term value is demonstrated by the latest statement.
However, the difference between MicroStrategy’s buying spree and MetaPlanet’s is quite evident to the market. The percentage of bets on Polymarket that MicroStrategy will increase its Bitcoin holdings to more than 500K Bitcoins by March has gone up.
Despite this, MetaPlanet’s continued investment indicates that it wants to take a similar course and establish itself as the “MicroStrategy of Japan.”
Institutional investors are drawn to Bitcoin because of its potential as a store of value and a hedge against conventional market volatility. The entire 2024 has been crucial for Metaplanet as the company began emphasizing cryptocurrencies as a fundamental component of its portfolio strategy.
MetaPlanet is successfully coordinating its financial operations with its optimistic view of Bitcoin by issuing bonds to finance these acquisitions.