Shares of Metaplanet, a Japanese investment company, soared after the firm unveiled an ambitious plan to raise $5.4 billion to purchase 210,000 Bitcoin (BTC) by the end of 2027. If successful, this acquisition would position Metaplanet as the second-largest holder of Bitcoin among public companies, trailing only Michael Saylor’s Strategy.
Metaplanet’s Stock Price Skyrockets
On June 9, Metaplanet’s stock (3350T ) surged over 12% during the trading session, reaching 1,505 yen ($10.42), according to Google Finance. At its peak, the stock hit 1,641 yen ($11.36), reflecting a 13,55% increase following the announcement of its massive Bitcoin acquisition plan.
Source: Google Finance
This surge comes after Metaplanet revealed its updated Bitcoin strategy on June 6, increasing its target from 21,000 BTC to an impressive 210,000 BTC by the end of 2027. The company currently holds 8,888 BTC, including its latest acquisition of 1,088 BTC announced on June 2.
The “555 Million Plan”
Dubbed the “555 Million Plan,” Metaplanet aims to acquire 201,112 BTC by 2027, requiring an investment of over $21 billion at current prices. By 2026, the company plans to hold 100,000 BTC, significantly surpassing its previous target under the “21 Million Plan” , which aimed for just 21,000 BTC by the same year.
Since its first Bitcoin purchase on July 22, 2024, Metaplanet’s stock price has skyrocketed by 1,744%, rising from 173 yen ($1.10) to its current levels. This remarkable growth underscores investor confidence in the company’s bold Bitcoin strategy.
A Growing Trend: Corporate Bitcoin Treasuries
Metaplanet is part of a growing trend of companies adding Bitcoin to their balance sheets. According to Bitbo data, corporate Bitcoin treasuries collectively hold over three million BTC, worth more than $342 billion, out of the 19 million BTC currently in circulation.
A June 3 report from Standard Chartered found that 61 publicly listed firms now hold a combined 3.2% of all Bitcoin that will ever exist. Recent examples include:
- K Wave Media, a South Korean entertainment company, which announced its Bitcoin treasury plans on June 4.
- Blockchain Group, a Paris-based crypto company, whose stock surged 225% after starting its Bitcoin purchases.
- DigiAsia Corp, an Indonesian fintech firm, whose shares nearly doubled (+91% ) after announcing plans to raise $100 million for Bitcoin acquisitions.
However, not all companies have seen positive stock performance. For instance, Norwegian crypto brokerage K33 experienced flat trading after announcing its intent to buy Bitcoin, with shares dropping 1.96%. Similarly, GameStop saw its stock rise 12% after announcing Bitcoin plans but later dropped 11% following its first purchase of 4,710 BTC.
Why Investors Are Bullish on Metaplanet?
Metaplanet’s aggressive Bitcoin acquisition strategy aligns with the growing institutional adoption of cryptocurrency as a store of value. By targeting 210,000 BTC, the company aims to cement its position as a major player in the Bitcoin ecosystem.
“If successful, the acquisition would make Metaplanet the second-largest holder of Bitcoin among public companies,” according to Bitbo data.
This move reflects a long-term bet on Bitcoin’s potential to appreciate in value, driven by its scarcity and increasing adoption by both retail and institutional investors.
Challenges and Risks
While Metaplanet’s stock has responded positively to its Bitcoin plans, the company faces significant challenges in executing its ambitious strategy. Acquiring 201,112 BTC by 2027 would require careful timing and execution to avoid impacting Bitcoin’s market price. Additionally, regulatory scrutiny and market volatility could pose risks to the company’s goals.
Final Thoughts
Metaplanet’s $5.4 billion Bitcoin acquisition plan represents a bold step in the company’s evolution, signaling its commitment to becoming a leader in the cryptocurrency space. With its stock price surging and investor sentiment strong, the company is poised to play a pivotal role in the growing trend of corporate Bitcoin adoption.
As more companies follow suit, the integration of Bitcoin into corporate treasuries could further legitimize cryptocurrency as a mainstream asset class. However, success will depend on Metaplanet’s ability to navigate market dynamics and execute its ambitious strategy effectively.
