Japanese Bitcoin treasury company MetaPlanet has surpassed Musk’s Tesla in total Bitcoin holdings, after their second Bitcoin purchase in this week alone. They acquired 1,234 BTC for $133M, bringing their total holdings to 12,345 BTC or $1.32B worth, narrowly edging out Tesla at 11,509 BTC.
MetaPlanet has been on a Bitcoin buying spree, having acquired 1,111 BTC for $113.2M just three days earlier. These purchases are likely fuelled by their recent $515M raise through the issuance of 54M shares, as part of their broader “555 Million Plan”. The plan involves the sale of 555M shares or 92.4% of the shares outstanding to facilitate the purchase of more Bitcoin. Their goal: 1% of Bitcoin’s total supply, or 210,000 BTC by 2027.
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