Metaplanet, a Japanese investment firm often called “Japan’s MicroStrategy,” is going all-in on Bitcoin. They’ve announced a massive plan to raise $880 million through an international share sale, with the vast majority – about $835 million – earmarked for buying even more Bitcoin.
Fueling the Bitcoin Fire
This isn’t a small-scale operation. Metaplanet will issue 555 million new shares, boosting their total outstanding shares from 722 million to roughly 1.27 billion. The company plans to use the funds between September 2024 and October 2025 to acquire Bitcoin. A smaller portion, around $43.9 million, will be used for other Bitcoin-related activities. The share sale will be exclusively on international markets, with US sales limited to qualified institutional buyers.
Metaplanet’s Bitcoin Stash
Metaplanet is already a major Bitcoin player. They currently hold 18,991 BTC, making them the 8th largest publicly traded company in the world by Bitcoin reserves. Their current holdings are valued at roughly $2 billion, and they’re aiming for a whopping 210,000 BTC by the end of 2027. This ambitious goal highlights their long-term bullish outlook on Bitcoin. Just this week, they added another 103 BTC to their portfolio.
The Corporate Bitcoin Rush
Metaplanet’s strategy isn’t unique. Many companies are piling into Bitcoin, seeing it as a valuable asset for their treasuries. KindlyMD, a healthcare company, recently raised $5 billion to boost its own Bitcoin reserves. This growing corporate interest in Bitcoin is part of a broader trend.
Is Bitcoin Becoming Scarce?
Bitcoin’s fixed supply of 21 million coins is a key feature. However, many coins are lost forever, effectively reducing the circulating supply. This scarcity is driving the rush to accumulate Bitcoin before prices potentially skyrocket. We’re seeing this not only with companies but also with governments and institutional investors. For example, a Philippine congressman recently proposed creating a national Bitcoin reserve. Other companies like Amdax and Top Win International are also jumping on the bandwagon. Even Marti Technologies, a Turkish mobility app, plans to hold 20% of its cash reserves in Bitcoin.
The Current Bitcoin Price
At the time of writing, one Bitcoin is trading at $112,013, a 1.9% increase in the last 24 hours.