Metaplanet has surged previous Kioxia Holdings in market cap, hitting $6.9 billion after its inventory skyrocketed almost 400% in beneath two months.
AMetaplanet Inc., a Japanese agency recognized for its aggressive Bitcoin (BTC) accumulation technique, has overtaken chipmaker Kioxia Holdings Corp. in market capitalization, hitting over ¥1 trillion ($6.9 billion) after its inventory surged almost 400% in beneath two months. This surge has additionally pushed the agency forward of outstanding Japanese firms like Display screen Holdings and Tokyo Metro when it comes to valuation.
The most recent 26% soar got here Monday after Metaplanet disclosed it bought ¥16.9 billion in Bitcoin. The acquisition was funded by a newly issued $210 million bond to EVO Fund, as introduced on June 16. These bonds, which carry no curiosity, are set to mature in December, although they are often redeemed earlier than that date.
Regardless of this, skepticism stays. As of June 12, brief curiosity reached 23% of Metaplanet’s free float — the very best amongst medium-sized Tokyo-listed corporations.
Metaplanet started buying Bitcoin in Might of final yr as a response to Japan’s financial struggles, notably the weakening yen. Since then, the agency has been quickly increasing its Bitcoin holdings. In line with June 6 announcement, the agency is aiming to build up no less than 210,000 BTC by 2027, whereas additionally boosting its annual acquisition purpose for 2026 from 21,000 BTC to 100,000 BTC.
In line with the agency’s “2025-2027 Bitcoin Plan,” Metaplanet intends to develop its Bitcoin reserves to 30,000 BTC by the top of this yr. To finance these acquisitions, the corporate plans to difficulty 555 million shares to boost the required capital.