Metaplanet Stock Jumps 12% On Bitcoin Buy Plan
Summary
Metaplanet plans to raise $5.4 billion to acquire Bitcoin, aiming for 210,000 BTC by the end of 2027, up from a previous target of 21,000 BTC. Shares surged over 12% to 1,505 yen ($10.42) on June 9, peaking at 1,641 yen ($11.36), a 22% increase. The company currently holds 8,888 BTC and aims to reach 100,000 BTC by 2026. If successful, Metaplanet would become the second-largest public holder of Bitcoin after Strategy. Corporate Bitcoin treasuries now hold over three million BTC, valued at over $342 billion. While many companies see stock price increases after Bitcoin announcements, some, like K33, have not experienced similar gains.
