CMC News

#Metaplanet Stock Jumps 22% After $5.4B $BTC Purchase Plan

Metaplanet shares spiked over 22% to 1,641 yen following the announcement of its ambitious $BTC acquisition strategy.

The Japanese investment company updated its target to purchase 210,000 $BTC by the end of 2027.

This represents a massive increase from the previous goal of 21,000 $BTC under the prior acquisition plan.

The new "555 million" strategy would require buying 201,112 additional $BTC at an estimated cost exceeding $21 billion.

Successful execution would make Metaplanet the second-largest corporate Bitcoin holder, behind #MicroStrategy.

The company currently holds 8,888 $BTC following its latest 1,088 BTC purchase announcement on June 2.

Metaplanet's stock price has surged by over 1,744% since its first Bitcoin purchase on July 22, 2024.

Corporate $BTC treasuries collectively hold over 3 million $BTC worth more than $342 billion, according to current data.

The corporate #treasury trend now includes 61 publicly listed firms holding a combined 3.2% of all $BTC that will ever exist.

Mixed market reactions have followed other companies' $BTC announcements, with some experiencing significant stock price volatility.