Metaplanet is at it again! The Japanese investment firm has just snapped up 797 more BTC for a cool $93.6 million, pushing its total holdings to a massive 16,352 BTC worth a staggering $1.64 billion. And their CEO Simon Gerovich? Well, he’s keeping it casual, saying, "Another week, another tranche." Clearly, they’re not slowing down anytime soon.

Why Metaplanet's on Fire

So, Metaplanet is now the fifth-largest publicly traded holder of Bitcoin, trailing behind the big dogs like Strategy, MARA, and Riot Platforms. But let’s not forget, Michael Saylor’s Strategy is sitting pretty at the top with 597,325 BTC. Talk about being in the game!

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Top Public Bitcoin Treasury Companies. Source: BitcoinTreasuries

Metaplanet, which once ran a hotel management business, has pivoted hard, becoming a Bitcoin treasury firm over the past year. The company has big dreams, aiming to hold over 210,000 BTC by 2027. And if that doesn’t sound like an ambitious target, I don’t know what does.

Expanding into New Frontiers

Gerovich recently revealed in an interview with the Financial Times that the company plans to borrow against its massive Bitcoin stash to snag cash-generating businesses. Sounds like they’re in a "bitcoin gold rush," looking to branch into sectors like digital financial services. But hey, it's still in the early days. They’re playing the long game, folks.

In case you missed it, Metaplanet’s second-quarter revenue reached nearly 1.1 billion yen ($7.6 million), marking a sweet 42.4% year-over-year increase. Bitcoin is definitely proving to be the right kind of investment, huh?

BTC Hits New ATH, Metaplanet Rides the Wave

Meanwhile, Bitcoin’s making waves of its own, breaking above $120,000 and setting a new all-time high. Currently, it’s trading at $122,612, a 4% increase in the last 24 hours. And as if that weren’t enough, Metaplanet’s stock is trading at 1,558 yen on Monday.

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Metaplanet stock price. Source: Google Finance

The market’s still open, so who knows what’ll happen next?

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