Japanese listed Metaplanet is preparing to enter the next phase of its Bitcoin driven strategy by targeting acquisitions of cash generating businesses, including a Japanese digital bank.
CEO Simon Gerovich, the CEO of Metaplanet described the company’s current mission as a “Bitcoin gold rush.”
He emphasized the urgency to rapidly accumulate Bitcoin and achieve “escape velocity” to stay ahead in the competitive landscape.
Since 2024, Metaplanet has steadily built its Bitcoin reserves. Its current holding is 15,555 BTC, and it aims to expand to 210,000 BTC by 2027, representing approximately 1% of the total Bitcoin supply.
Gerovich revealed that Metaplanet intends to use its Bitcoin holdings as collateral to secure financing, similar to how companies use bonds or securities. The resultant capital will then be invested in acquiring profitable businesses.
Gerovich also clarified that Metaplanet would avoid issuing convertible debt, preferring instead to issue preferred shares to avoid short-term debt obligations tied to stock fluctuations.
Recently, Metaplanet purchased an additional 2,204 BTC for approximately $237 million, paying an average price of around $107,700 per coin.
Despite having limited actual revenue, the stock price of Metaplanet has surged over 345% this year, pushing its market capitalization beyond $7 billion.
