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U.Today - Metaplanet, a Japanese company that is copying Strategy’s Bitcoin playbook, has published a tweet to announce a radical acceleration of its Bitcoin strategy for the next two years.
It has set itself the ambitious goal of accumulating roughly 110,000 BTC in this time frame and hold 210,000 Bitcoins by the end of 2027. That would equal to 1% of the total BTC supply of 21 million coins.
Metaplanet made a complete transition to being a Bitcoin treasury company and began accumulating BTC, following the example of Michael Saylor’s Strategy (formerly MicroStrategy). This company already holds 580,955 BTC worth more than $61 billion in fiat. The most recent BTC purchase was announced on Monday, when Strategy acquired 705 Bitcoins for roughly $75.1 million.
The new goal to hold 110,000 Bitcoin by the end of 2027 is referred to as the “555 million plan” in the disclosure document published on the X platform earlier today. Prior to announcing the new Bitcoin goal, Metaplanet announced that it would be issuing 555 million MS warrants. The goal is to raise 770.9 billion yen (including prepayment of stock acquisition rights). The entire amount of the funds to be raised through selling those warrants will be used to accumulate Bitcoin.
The tweet said that this would be “the largest stock acquisition right issuance in the history of the Japanese capital market, and the first MS warrant in Japan with an exercise price above the market price.”