Bitcoin News Today: Japan's Metaplanet Races to 30,000 BTC as Bitcoin Whale Ambitions Intensify

The shareholder vote at Japan-based Metaplanet could unlock a dual-class share structure and facilitate a ¥555 billion fundraising initiative, according to the latest developments. This potential move is expected to significantly accelerate the company’s Bitcoin accumulation strategy, which has already positioned it as a key player in the global Bitcoin treasury market. The firm currently holds 20,000 BTC, making it the sixth-largest corporate holder of the cryptocurrency globally [1].

Metaplanet’s recent Bitcoin purchases, including an acquisition of 1,009 BTC valued at $112 million, reflect its aggressive approach to digital asset acquisition. The average price per coin for the latest purchase was approximately $111,068. This purchase brought the company’s total Bitcoin holdings to a record high, surpassing the 19,239 BTC held by rival firm Riot Platforms. The firm is now in direct competition with Bullish, which controls 24,000 BTC [1].

The company has set an updated target of acquiring 30,000 BTC by the end of the year, up from an initial goal of 10,000. This increased ambition underscores confidence in Bitcoin’s long-term value, particularly in an environment marked by geopolitical risks and volatile bond markets. According to Metaplanet, the company’s strategy is centered on asset protection rather than speculative trading, aligning with broader trends among institutional investors seeking to hedge against traditional market uncertainties [2].

To fund these purchases, Metaplanet plans to raise $880 million (¥130 billion) through an international share offering. The capital will be primarily allocated toward Bitcoin acquisitions over the next two months, further solidifying the company’s position as a major BTC whale in Asia. Additionally, the firm has secured $87 million in institutional funding for its Web3 initiatives, demonstrating continued interest in blockchain and decentralized technologies [1].

The recent Bitcoin price volatility has not deterred Metaplanet from its accumulation strategy. Despite a 1.26% drop in the past 24 hours and a 4.64% decline over seven days, the company remains focused on capitalizing on price dips to expand its holdings. Technical indicators suggest mixed market sentiment, with Bitcoin trading near local lows amid bearish MACD momentum and oversold conditions on the CRSI [1]. Nonetheless, the firm’s consistent buying activity suggests a strategic approach to navigating short-term fluctuations.

The link between Metaplanet’s equity performance and Bitcoin’s price movements has become increasingly evident. Investors have responded to the company’s recent Bitcoin purchases with notable stock activity, mirroring the experience of U.S. firms like MicroStrategy, which have integrated Bitcoin into their corporate balance sheets. This trend reflects a broader shift in how digital assets are being evaluated and incorporated into institutional financial strategies [2].

Source:

[1] Metaplanet Bitcoin Treasury Grows Stronger with New Purchase (https://www.coingabbar.com/en/crypto-currency-news/metaplanet-bitcoin-treasury-grows-stronger-with-new-purchase?srsltid=AfmBOorEUxRjvn08jKKfnWEqYbacDHwAW-80gqqQ5fe2_ZAW4ElwNePP)

[2] Metaplanet Achieves Major Milestone with $2 Billion in ... (https://intellectia.ai/news/crypto/2-billion-in-bitcoin--metaplanet-crosses-massive-milestone)