Metaplanet, the Japanese Bitcoin Treasury company, has unveiled a daring strategy to convert its growing Bitcoin reserves into capital for acquiring profitable companies.
According to an July 8 Financial times reportSimon Gerovich, CEO of Metaplanet, said that the company is preparing for a second phase in which the Bitcoin can use as collateral to gain access to bank financing.
Gerovich outlined the plan and said:
“When Bitcoin, such as effects or government bonds, can be deposited at banks and then they will offer very attractive financing at that active. We get cash that we can use to buy profitable companies, companies in cash.”
He estimates that this transition could take place within four to six years.
Although acquisitions remain a long -term objective, Gerovich noted that the objectives of companies Metaplanet should tailor to its existing mission. He said:
“Perhaps it acquires a digital bank in Japan and it offers digital banking services that are superior to the services that the retail trade now receives.”
Institutional support grows as the Bitcoin strategy speeds up
Metaplanet bought 2,205 BTC for $ 237 million on 7 June. This is the largest Bitcoin purchase so far and pushed its total interests to 15,555 BTC (worth $ 1.7 billion), making it the fourth largest public holder of the top crypto.
Gerovich emphasized that the company does not intend to sell Bitcoin. Instead, the capital continues to attract its reserves and the current environment describes as a “Bitcoin Gold Rush”.
He said:
“We have to collect as much Bitcoin as we can … to get to a point where we have reached escape speed and it makes it difficult to catch up with others.”
In view of this, the company wants to acquire 1% of Bitcoin or 210,000 BTC by the end of 2027.
As a result, the aggressive Bitcoin attitude attracts considerable institutional attention.
Capital Group, a VS -based asset manager with more than $ 2.6 trillion under management, is ready to become the largest shareholder in Metaplanet.
From the last update, Capital Group has 44.2 million shares or approximately 6.6% of the company. This is just behind MMXX Ventures, which has 44.3 million shares, or 6.7% of the company established in Japan.
Gerovich welcomed the development, proverb:
“Honored to see our largest institutional investor rising in the ranking and now almost the #1 shareholder of Metaplanet.”
