Metaplanet, a Japanese investment firm, saw its shares rise significantly after revealing plans to raise $5.4 billion to buy Bitcoin. On June 9, the stock (3350T) jumped over 12% to 1,505 yen ($10.42) and peaked at 1,641 yen ($11.36), highlighting a strong market response to its expansive Bitcoin acquisition strategy. The company plans to acquire 210,000 BTC by the end of 2027, a substantial increase from its prior target of 21,000 BTC. If Metaplanet achieves its goal, it would become the second-largest holder of Bitcoin among publicly traded companies, surpassed only by Michael Saylor's Strategy.
Presently, Metaplanet holds 8,888 Bitcoins, following a recent acquisition of 1,088 BTC. The firm aims to secure 201,112 additional BTC as part of its updated plan, which would cost over $21 billion. By 2026, they expect to hold 100,000 BTC, compared to an earlier plan which outlined only 21,000 BTC by the end of 2026 without further purchases. Since buying its first Bitcoin in July 2024, the stock's value has surged by over 1,744%.
The trend of companies adding Bitcoin to their balance sheets is growing. Recent entrants include South Korea's K Wave Media and many firms are now holding substantial Bitcoin treasuries totaling three million BTC. A report from Standard Chartered notes that 61 public companies now own 3.2% of the total Bitcoin supply.
While some companies have benefited from Bitcoin-related announcements, results can vary; for instance, shares of GameStop initially surged after revealing Bitcoin plans but later dropped post-purchase. The reaction of stocks to Bitcoin news continues to show mixed outcomes but remains a focal point for market investors.
Presently, Metaplanet holds 8,888 Bitcoins, following a recent acquisition of 1,088 BTC. The firm aims to secure 201,112 additional BTC as part of its updated plan, which would cost over $21 billion. By 2026, they expect to hold 100,000 BTC, compared to an earlier plan which outlined only 21,000 BTC by the end of 2026 without further purchases. Since buying its first Bitcoin in July 2024, the stock's value has surged by over 1,744%.
The trend of companies adding Bitcoin to their balance sheets is growing. Recent entrants include South Korea's K Wave Media and many firms are now holding substantial Bitcoin treasuries totaling three million BTC. A report from Standard Chartered notes that 61 public companies now own 3.2% of the total Bitcoin supply.
While some companies have benefited from Bitcoin-related announcements, results can vary; for instance, shares of GameStop initially surged after revealing Bitcoin plans but later dropped post-purchase. The reaction of stocks to Bitcoin news continues to show mixed outcomes but remains a focal point for market investors.
