Japanese company Metaplanet plans to eventually use its Bitcoin reserves to acquire cash generation operations, possibly including Japan’s digital banks.
In the nearest one interview In the Financial Times, CEO Simon Gerovich said the company is competing for as many bitcoins as possible (BTC) Before turning its holdings into extended leverage.
“We think it’s a Bitcoin gold rush,” Gerovich said. “We need to accumulate as much bitcoin as possible … to get to the point where we can escape, which makes it hard for others to catch up.”
The listed company, originally a hotel operator, began accumulating Bitcoin as a hedge in 2024 and currently holds 15,555 BTC, aiming to increase that number to more than 2027, accounting for 1% of all Bitcoins.
Related: Metaplanet’s Bitcoin holdings hit 10,000 BTC, beating Coinbase
Metaplanet uses Bitcoin for acquisition
The second phase of the Metaplanet plan involves the use of Bitcoin as collateral for financing, similar to securities or government bonds. “We will get cash that can be used to buy profitable businesses,” Gerovich said.
Gerovich said Metaplanet’s future acquisition ideally would be aligned with its strategy, so “perhaps it is acquiring digital banks in Japan and providing digital banking services better than what retail services are available.”
While crypto-backed loans are still rare in traditional banking, some institutions are starting to explore it. April, standard charter flights and OKX Pilot plan started Allow institutions to use cryptocurrency market funds as collateral.
Gerovich excludes the issuance of convertible debt, but is open to preferred shares to fund growth. “I don’t want to repay the money in three or four years, and (repayment) is related to any share price,” he said.
Related: Kazakhstan plans to establish national crypto protected areas
Metaplanet resumes buying carnival
Monday, Metaplanet Added 2,204 BTC to its reserves Buy for $237 million, each bitcoin is purchased for about $107,700. The latest acquisition raises its total holdings to 15,555 BTC, with an average purchase price of about $99,985.
Metaplanet’s stock has risen more than 345% this year, and despite limited revenue, it still raises its market capitalization by $7 billion. Company Mirror Michael Saylor’s Strategyholding more than 597,000 BTC and has a market capitalization of US$112 billion.
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