Metaplanet Eyes Digital Bank in Bitcoin Expansion Plan
Metaplanet plans to use its Bitcoin reserves to acquire cash-generating businesses, potentially including a digital bank in Japan. CEO Simon Gerovich aims to accumulate over 210,000 BTC by 2027, representing 1% of all Bitcoin. The company currently holds 15,555 BTC, having started its accumulation in 2024 as a hedge against inflation. Metaplanet intends to use Bitcoin as collateral for financing to purchase profitable businesses. Gerovich expressed interest in acquiring a digital bank to enhance retail banking services. The firm recently added 2,204 BTC for $237 million, raising its total holdings to 15,555 BTC at an average price of approximately $99,985 per coin. Metaplanet's stock has surged over 345% this year, increasing its market cap to over $7 billion.
