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Metaplanet Moves On Digital Bank Acquisition As It Scales Bitcoin Strategy
In a shocking move, Tokyo-listed Metaplanet has announced its intentions to acquire a digital bank as part of its ambitious plan to scale its Bitcoin strategy. The company, which has quietly become one of the world’s largest corporate holders of Bitcoin, aims to further amplify its Bitcoin holdings by 2027.
According to reports, Metaplanet owns an impressive 15,555 BTC units currently. However, CEO Simon Gerovich is determined to increase that number significantly, aiming for a staggering 210,000 BTC by the end of 2027. This would put the company’s stash at a whopping 1% of all Bitcoin that will ever exist.
It appears that Metaplanet’s initial investment in Bitcoin was merely a hedge against rising prices. However, with its recent $237 million purchase of an additional 2,204 BTC units, it seems that the company is now racing to grow its Bitcoin portfolio at breakneck speed.
The share price has responded positively to this news, surging by an impressive 340% this year despite Metaplanet still generating modest revenue. It appears that investors have taken notice of Metaplanet’s Bitcoin-centric approach and are eager to participate in the company’s potential growth.
In a statement released earlier today, Gerovich revealed that Metaplanet will now enter the second phase of its strategy, which involves using Bitcoin as collateral leverage to acquire cash flow businesses. Potential targets include Japanese digital banks, which would allow them to provide more comprehensive digital banking services that may outdo those offered by traditional financial institutions.
Metaplanet is not stopping there, however, as it also plans to expand on its current Bitcoin treasury efforts to incorporate other cryptocurrencies in the future. This move could potentially disrupt the way businesses finance their operations and may create new opportunities for investors seeking alternative assets.
Source: bitcoinist.com
