Metaplanet Bitcoin Holdings Raises ¥9.5 Billion, Targets 10k BTC by 2025
Metaplanet Inc. (Tokyo: 3350), a Bitcoin (BTC)-focused company, announced on Monday, January 6, 2025, that it has completed its 12th consecutive share buyback. The company issued the shares through EVO FUND, an exercise of 29k units representing 2.9 million new shares.
As a result, the company raised ¥9.5 billion, of which ¥4.5 billion was collected under the 4th series and ¥5 billion under the 5th series. The company's share price rose to 62.9 million, down 8 percent on the stock market.
Metaplanet has bought about 1,762 BTCs since the Bitcoin strategy was approved in April 2024.
In addition, Metaplanet has been using cash flow from core business activities, including hotel management, and Bitcoin native trading to bolster its BTC strategy.
In the year By 2025, the company plans to increase its Bitcoin holdings to 10k, according to CEO Simon Gerovic.
Impact on the BTC market
The success of Metaplanet's bitcoin strategy, similar to that of MicroStrategy Inc. (NASDAQ: MSTR ), has influenced other global companies to follow suit. Therefore, the supply of Bitcoins traded on centralized exchanges and over-the-counter (OTC) platforms continues to decline.
Last week in the first week of 2025, the US spot BTC ETF underperformed, but over 35.4k bitcoins were removed from centralized exchanges.
As whale investors continue to accumulate more bitcoins, the underlying value continues to rise from the recent correction. Over the past 24 hours, the price of Bitcoin has increased by around 2% to reach over $99.5k earlier on Monday.
