Metaplanet (also known as Japan’s Strategy) has revised its Bitcoin purchase plans. It now plans to acquire 100,000 BTC before the end of 2026.
Metaplanet June 6, posted Bitcoin’s new (BTC) plan, increasing its previous target of 21,000 BTC.
“Our previous target — to hold 21,000 BTC by the end of 2026 — has now been dramatically revised upward. We now aim to hold 100,000 BTC by that time,” Simon Gerovich, CEO of Metaplanet, said this in a post on X.
Metaplanet has 8,888 BTC after its most recent transaction 1,088 BTC acquisition announcement The next date is June 2. It is now committing to buying at least 91 112 BTC within the next 12 months.
“Safe assets” There’s no safe place anymore
Metaplanet’s haste to buy Bitcoin is a reaction to the economic changes worldwide, and to global financial system.
The CEO of Metaplanet believes that the global economy has been undergoing an a “structural transformation from a traditional supply structure centered on capital and labor to a new economic foundation driven by information technology.”
This situation has been made worse by “postwar monetary regime” Geopolitical risk, changes in trade policies and concerns about accumulated sovereign debt are all implications.
“In this environment, capital has begun flowing out of assets previously considered safe, such as long-term government bonds. Gold has been revalued to record-high levels against major currencies,” Gerovich stated in the statement that adding:
“Against this backdrop, the strategic importance of Bitcoin — an asset characterized by high scarcity, ease of custody and transfer, and the absence of credit intermediaries — is rapidly gaining recognition.”
The new plan of 21 millions is the 555-million plan
Metaplanet decided to sell stock rights to fund its purchases. This will allow up to 555,000,000 shares to be issued to acquire Bitcoin.
The new shares, 555,000,000, will add to the already existing 21 million shares.
Related: South Korean media firm to raise $500M for Bitcoin treasury
“By the end of 2027, we aim to hold over 210,000 BTC, thereby entering the so-called ‘1% Club,’ referring to entities holding at least 1% of Bitcoin’s 21 million supply cap,” Gerovich said.
Metaplanet accelerated its Bitcoin push shortly after Standard Chartered Bank warned on the potential risks An increasing number of public companies are adopting Bitcoin as a treasury management strategy.
The bank estimates that 61 of the 124 total public companies which have invested in Bitcoin, own combined 3,2% the 21 million Bitcoin that will ever exist.
Magazine: China to ban owning Bitcoin? Gate.io to pay $30M over liquidations: Asia Express
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Source: cointelegraph.com
