In a bold strategic move, Japanese investment firm Metaplanet has announced the purchase of $112 million in Bitcoin, bringing its total holdings to 20,000 BTC.
This acquisition is just the beginning; the company recently revealed plans to raise approximately $880 million through a stock offering, with the explicit intention of using the proceeds to purchase more Bitcoin over the next two months.
This aggressive accumulation strategy has rapidly propelled Metaplanet to the forefront of global corporate Bitcoin holdings, now ranking sixth globally.
Metaplanet shares fell 2.62% on Monday morning in Japan, according to data from Yahoo Finance.