Ah, the illustrious Metaplanet, a Japanese investment company that has decided to play the grand game of Bitcoin acquisition! With a flourish, they announced their audacious plan to raise a staggering $5.4 billion to buy Bitcoin, and lo and behold, their shares spiked like a soufflé in a hot oven! 🎉
On this fine day of June 9, the stock (3350T) soared over 12%, trading at a delightful 1,505 yen ($10.42). But wait! At its zenith, it reached a dizzying height of 1,641 yen ($11.36), a 22% increase that would make even the most stoic investor swoon! 💃
In a twist worthy of a Shakespearean play, Metaplanet has revised its Bitcoin acquisition ambitions, now aiming for a jaw-dropping 210,000 BTC by the end of 2027, up from a mere 21,000 BTC. Truly, they are aiming for the stars! 🌟
If fortune smiles upon them, this acquisition would crown Metaplanet as the second-largest holder of Bitcoin among public companies, trailing only behind the illustrious Michael Saylor’s Strategy. Oh, the irony! 🥳
Metaplanet’s “555 million” plan
Currently, Metaplanet holds a modest 8,888 Bitcoin, following their latest acquisition of 1,088 BTC on June 2. As part of their grand “555 million” plan, they must procure 201,112 BTC by 2027, at a cost that would make even Midas blush—over $21 billion! By 2026, they have grand designs to hold 100,000 Bitcoin. What a delightful game of numbers! 🎲
Previously, under their more modest 21 million plan, they would have held a mere 21,000 Bitcoin by the end of 2026, with no concrete plans for further acquisitions. How quaint! 🧐
Metaplanet first announced its foray into Bitcoin on July 22, 2024, and their shares jumped by 19% to 173 yen ($1.10). In the year since, the stock price has skyrocketed by over 1,744%. One must wonder if they have a crystal ball! 🔮
Strategy leads the way
As the winds of fortune blow, a growing number of companies have decided to add Bitcoin to their balance sheets. The South Korean entertainment company K Wave Media has joined the fray, becoming one of the latest to embrace this digital gold. 🎬
Corporate Bitcoin treasuries now collectively hold over three million BTC, worth over $342 billion, according to Bitbo data. Out of more than 19 million currently in circulation, it seems the Bitcoin craze is here to stay! 💸
The Bitcoin reserve strategy trend has led to 61 publicly listed firms now holding a combined 3.2% of all Bitcoin that will ever exist, as revealed in a June 3 report from Standard Chartered. What a delightful statistic! 📊
Mixed results for the stock after Bitcoin buys
Other companies have also experienced the euphoric surge of stock prices after announcing their Bitcoin buying plans. The Paris-based crypto company Blockchain Group saw its stock spike 225% to 0.48 euros ($0.52) after diving into the Bitcoin pool. 🏊♂️
Meanwhile, shares in the Indonesian fintech firm DigiAsia Corp nearly doubled, rising 91% after announcing plans to raise $100 million for their Bitcoin escapades. How charmingly ambitious! 🌍
However, not all have basked in the glow of success. The Norwegian crypto brokerage firm K33 announced its intent to buy and hold the cryptocurrency, but alas, its share price traded flat, down 1.96%. Such is the fickle nature of fortune! 😅
Even the video game retailer GameStop saw its shares jump nearly 12% on March 26 after announcing plans to purchase Bitcoin, only to plummet 11% on May 11 after making its first purchase of 4,710 Bitcoin. A true rollercoaster of emotions! 🎢
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2025-06-09 09:41