- Metaplanet’s $5.4 billion Bitcoin financing plan announced by CEO Simon Gerovich.
- Plan to accumulate 1% of Bitcoin supply by 2027.
- No official statement confirms the 210,000 BTC target yet.
Simon Gerovich, CEO of Metaplanet, announced the launch of a significant Bitcoin equity financing plan on June 6, believed to be the largest in Asia. Metaplanet plans to use this initiative to amass 210,000 BTC by 2027.
The plan highlights Metaplanet’s intent to enhance its Bitcoin holdings substantially, targeting significant growth in its treasury assets. Despite the bold statements, official filings and statements do not corroborate the ¥770.9 billion ($5.4 billion) financing size or the BTC target.
Metaplanet Targets 210,000 BTC in Groundbreaking Plan
Metaplanet’s announcement revealed a ¥770.9 billion ($5.4 billion) financing plan, the largest Bitcoin-related equity effort in Asia. The company aims to issue 5.55 billion new shares through floating strike price warrants. CEO Simon Gerovich stated that this move leverages Metaplanet’s high stock price volatility and strong liquidity.
The effort to acquire 210,000 BTC by 2027 marks a substantial commitment to Bitcoin, intending to make Metaplanet one of the largest corporate holders of the cryptocurrency globally. Metaplanet achieves record profit of $4M from Bitcoin holdings. However, official documents do not yet verify these ambitious acquisition targets or financing claims.
Community response highlights uncertainty, as major crypto figures have not commented, and there are no affirmative official statements. Eric Trump’s involvement on the Strategic Advisory Board signals potential deeper institutional engagement.
Bitcoin’s Corporate Adoption Lacks Official Confirmation
Did you know? Metaplanet’s strategy emulates MicroStrategy’s 2020 move to adopt Bitcoin for corporate treasury, showcasing a trend of institutional cryptocurrency accumulation.
CoinMarketCap reports Bitcoin’s current price at $103,209.78, with a market cap of $2.05 trillion, declining 1.25% over 24 hours. The coin’s supply stands at 19,875,034, nearing its cap of 21 million.
The Coincu research team notes that Metaplanet’s audacious plan may shape financial strategies if confirmed, promoting Bitcoin’s corporate adoption. Metaplanet buys 1,088 more Bitcoin, total now 8,888 BTC. However, lack of validation remains a crucial factor to watch.
Source: https://coincu.com/341855-metaplanet-bitcoin-financing-plan/