Public Companies Add $122 Million in Bitcoin Purchases, Metaplanet Expands Holdings to 20,000 BTC

According to the company, an EGM on Sept. 1 approved issuing up to 555 million preferred shares (¥555 billion) to buy Bitcoin, as CEO Simon Gerovich outlined a 210,000 BTC target by 2027.

BTC

11d ago

Fact Check

The evidence strongly corroborates that Metaplanet expanded its holdings to 20,000 BTC (Sources 6, 8). While the specific figure of a '$122 million' purchase by public companies is not directly verified, the evidence does report a recent '$112 million' purchase by Metaplanet alone (Source 6). This proximity suggests the statement is largely accurate despite a minor numerical discrepancy.

Summary

Metaplanet acquired 1,009 BTC for about $112 million at an average ¥16.3 million ($110,720) per BTC, raising its total holdings to 20,000 BTC. The Tokyo-listed firm said shareholders at an Extraordinary General Meeting approved amending its articles to enable issuing up to 555 million preferred shares, potentially raising ¥555 billion ($3.8 billion) dedicated to Bitcoin purchases. The preferred shares, capped at 25% of the company’s Bitcoin NAV, include Class A with a 5% yield and Class B with conversion rights into common stock. Metaplanet’s Bitcoin treasury now exceeds $2.1 billion, making it Asia’s largest corporate holder and sixth globally, surpassing Riot Platforms. CEO Simon Gerovich outlined a plan to add $2.8 billion of Bitcoin through 2027 and a goal to reach 210,000 BTC by 2027. Eric Trump attended the meeting as a strategic advisor. Metaplanet reported Q2 profit of ¥11.1 billion (up 41% QoQ), with ¥1.9 billion in revenue from selling Bitcoin put options, and was upgraded to mid-cap in FTSE Russell’s September review, entering the FTSE Japan and FTSE All-World indexes.

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