Key Takeaways
- Metaplanet purchased 2,205 more BTC, bringing its total to 15,555 BTC.
- The company aims to borrow against its bitcoin holdings to acquire cash-generating businesses, such as digital banks.
- CEO Simon Gerovich described the strategy as a 'bitcoin gold rush' focused on rapid accumulation before leveraging assets for expansion.
Metaplanet, a Japanese company that pivoted from hospitality to bitcoin treasury management, has announced plans to use its expanding bitcoin holdings to acquire cash-generating businesses.
According to the Financial Times, the company may target sectors such as digital banking as it seeks to broaden its footprint beyond asset accumulation.
BTC buys
On Monday, Metaplanet revealed the purchase of an additional 2,205 BTC for $238.7 million, raising its total bitcoin reserves to 15,555 BTC—currently valued at approximately $1.7 billion.
This acquisition cements Metaplanet’s position as the fifth-largest public corporate holder of bitcoin, trailing firms like MicroStrategy and Marathon Digital. Up-to-date details of the company’s bitcoin treasury can be found on the Metaplanet bitcoin treasury tracker.
“Bitcoin gold rush”
CEO Simon Gerovich described Metaplanet’s strategy as a “bitcoin gold rush,” with an initial four to six-year phase focused on rapid bitcoin accumulation.
Gerovich stated:
“We need to accumulate as much bitcoin as we can…to get to a point where we’ve reached escape velocity, and it just makes it very difficult for others to catch up.”
Once this accumulation phase is complete, Gerovich envisions leveraging bitcoin as collateral to secure financing for acquisitions without selling their holdings.
He highlighted the potential of acquiring a digital bank in Japan, aiming to offer superior digital banking services.
Despite some skepticism over the firm’s premium-to-NAV valuation and the proliferation of corporate bitcoin buying programs, Gerovich dismissed critics, encouraging them to short Metaplanet’s stock if unconvinced by its long-term vision.
