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HomeAltcoin NewsAll In On Bitcoin: Metaplanet CEO Charts Path To 10K BTC

All In On Bitcoin: Metaplanet CEO Charts Path To 10K BTC

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Metaplanet CEO Simon Gerovich unveiled plans to more than double the firm’s current Bitcoin inventory over the next year. The Japan-based company already has 4,855 BTC, making it Asia’s largest publicly listed Bitcoin holder and ranking 10th globally among corporate crypto treasuries.

Company Prioritizes Long-Term Growth Over Short-Term Returns

In a recent X post, Gerovich responded to shareholder questions regarding stock price volatility. “We are consistently implementing a clear strategy,” he stated, highlighting that Metaplanet is concerned with creating long-term value, not pursuing short-term gains.

Shareholder Base Grows Dramatically Since 2021

The investor base supporting Metaplanet has grown from fewer than 10,000 as of December 2021 to 65,000 by March 2023. This six-fold rise indicates increased confidence in the company’s Bitcoin-focused strategy.

According to reports, institutional investors are also noticing. Metaplanet shares now find their way into ETFs and broad market indexes, attracting even more attention to their distinctive treasury strategy.

Company Shatters Crypto Goals—119% Per Share Growth Since January

The company gauges success in terms of such metrics as Bitcoin holdings per share, which has increased 119% since January—well above their quarterly goal of 35%.

As per Gerovich, the financial strategy of the company has generated an extra 2,174 BTC in value, equivalent to around ¥27 billion ($175 million). This helped them increase their crypto holding without simply making direct purchases of the cryptocurrency.

BTCUSD reclaims the $93K region on the 24-hour chart: TradingView.com

Bitcoin Treasury Target Would Cost More Than $463 Million

Achieving the 10,000 unit target would mean investing over $463 million at today’s market prices. This ambitious target comes as more public firms include Bitcoin on their balance sheets as a treasury asset.

Image: The Market Periodical

“We’re just getting started,” Gerovich said in his update. He also said that he has the same financial exposure as other shareholders, emphasizing his personal commitment to the company’s Bitcoin strategy.

Public Companies Increase Appetite For Crypto

Metaplanet’s strategy is following a trend in public companies increasingly viewing Bitcoin as a treasury investment and not an investment to make for speculation purposes. Their fast build-up is remarkable even when other companies start venturing into cryptocurrency as part of their capital planning.

The CEO’s note implies the company will keep up the strategy even if there is short-term price fluctuation of either digital currency or Metaplanet stock. This long-term focus appears to find favor with their growing investor base, who, like the company, seem to have faith in the future value of Bitcoin.

Metaplanet’s success in reaching their target of 10,000 BTC would make them one of the world’s largest corporate holders of the currency.

Featured image from Fordham Law News – Fordham University, chart from TradingView

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