Japan’s Metaplanet Aims for 21K BTC by 2026 – Here’s Why

In a stunning revelation, Metaplanet, a Japanese firm, has announced its ambitious plan to acquire an astonishing 21,000 Bitcoins (BTC) by the end of 2026. This monumental decision comes on the heels of a phenomenal surge in its stock price, which rose from approximately $10 to over $28 since November, representing a staggering 245% increase.

To put this into perspective, Metaplanet’s market capitalization has skyrocketed by an astonishing 7,000% since adopting a Bitcoin-centric corporate strategy in April 2024. The company’s head of BTC strategy, Dylan LeClair, has reiterated that Metaplanet is net long on BTC and intends to accumulate and lead the charge, rather than selling.

The firm’s plan to acquire a massive 21,000 Bitcoins by 2026 demonstrates its unwavering commitment to the cryptocurrency. This unprecedented move is reminiscent of MicroStrategy’s strategy, which has led to significant gains for the company. Metaplanet aims to follow in MicroStrategy’s footsteps by issuing 21 million shares and raising approximately ¥116 billion (approximately $760 million) to purchase additional BTC.

Source: ambcrypto.com