Metaplanet had announced plans to increase its Bitcoin holdings to 10,000 by 2025. The firm’s CEO Simon Gerovich made the disclosure on microblogging platform X while highlighting the firm’s plans for 2025. Gerovich highlighted that the firm saw a wonderful 2024, where it was able to expand its Bitcoin treasury. The development also cemented its place as Asia’s top Bitcoin treasury firm.
Gerovich said that the company will double down on its pursuit. “Last year was transformational, as we broke records, expanded our Bitcoin treasury, and reinforced our position as Asia’s leading Bitcoin Treasury Company. This year, we’re laser-focused on execution and driving even greater value for our shareholders,” he said. Metaplanet presently holds a sizable 1,762 BTC, worth about $172 million.
The figure is impressive because the company started its Bitcoin purchase in May 2024. It made its biggest purchase in December, buying 620 BTC for $60 million, a figure that puts each token at $96,000. Although the 10,000 dream looks far-fetched, the company intends to leverage the same tools to raise funds as it did last year. It used several financial instruments like bonds, loans, and equity to finance the purchase, a move it will continue in 2025.
Metaplanet wants to push for Bitcoin adoption in Japan
According to Metaplanet, its goal is not to only acquire Bitcoin, it wants to put initiatives in place to boost the token’s adoption in Japan. With this, the company intends to leave a lasting impact on both the Bitcoin ecosystem and the country.
Although the company has yet to detail how it plans to achieve these goals, it is certain that Bitcoin is central to its plans. It is not surprising, considering the fact that Bitcoin has helped the company’s stock, pushing it to global recognition.
Metaplanet’s stock rose by 2,629% last year, thanks to its Bitcoin strategy. The stock ended the year as the best-performing, leading others by a margin. Its market cap also grew to $808 million, with the company touching its projected profits for the first time since 2017. The company is currently ranked among the top firms holding Bitcoin, with the trading volume of its stock growing 388 times year-on-year.
Institutional adoption pushes BTC growth
Metaplanet’s vision to acquire Bitcoin echoes the same sentiment shared by big corporations. Over the last few years, these corporations have acted as the forces behind Bitcoin’s growth, acquiring a vast amount of it. According to a JPMorgan analysis, Microstrategy was responsible for 28% of funds flowing into the crypto market, with all of it used to purchase Bitcoin.
Analysts pointed out that about $78 billion went into the crypto market, with the funds used to purchase Bitcoin, sent to crypto funds and crypto venture capital funds. “$22bn of bitcoin purchases by MicroStrategy and another $1bn of bitcoin purchases by bitcoin miners,” the report said. Microstrategy is looking for ways to raise more capital to purchase Bitcoin, pausing all plans of acquiring the digital asset.
The post Metaplanet wants to acquire 10,000 BTC by 2025 first appeared on Coinfea.
