Metaplanet Surges Past Kioxia Holdings in Market Cap
Metaplanet Inc. has surpassed Kioxia Holdings in market value, reaching $6.9 billion. The Japanese company’s stock has soared nearly 400% in just two months. This extraordinary growth has propelled Metaplanet ahead of other major Japanese firms, including Screen holdings and Tokyo Metro.
Metaplanet’s success is largely due to its bold Bitcoin (BTC) investment strategy. The company recently revealed it bought ¥16.9 billion worth of Bitcoin.This move was financed by a $210 million bond issued to EVO Fund, with no interest. The bond matures in december but can be redeemed earlier.
Metaplanet’s aggressive Bitcoin acquisition plan has fueled its rise. The firm aims to hold at least 210,000 BTC by 2027. It also plans to boost its annual BTC purchase target for 2026 from 21,000 to 100,000 BTC. The firm’s “2025-2027 Bitcoin Plan,” Metaplanet intends to grow its Bitcoin reserves to 30,000 BTC by the end of this year.To finance these acquisitions, the company plans to issue 555 million shares to raise the necessary capital. rnrn
