Metaplanet ushers in the new year with a bullish sentiment on Bitcoin and blockchain technology.
After announcing late last year that they had purchased ¥1 billion worth of Bitcoins, the Japanese company is making headlines again by announcing its plans to increase its holdings to 10,000 Bitcoins.
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Metaplanet's decision to double the world's leading digital asset comes amid favorable political and economic conditions, with analysts expecting Bitcoin to take a hit. $200k fast.
Currently, Metaplanet boasts 1,762 Bitcoins, worth $173.4 million, and is one of the leading companies following MicroStrategy's Bitcoin investment playbook.
CEO announces target of 10k Bitcoins
CEO Simon Gerovich shared the company's latest investment plan in his New Year's address to shareholders. In a Twitter/X post on January 5 last year, Gerovick recognized the company's outstanding performance, where it expanded its Bitcoin holdings and consolidated its position as the largest holder of the digital asset sector. In the lengthy message, he reiterated the company's commitment to the fund and increasing shareholder value.
Happy New Year to our valued shareholders! As we step into 2025, I couldn't be more excited about what lies ahead for Metaplanet. Last year was transformative, as we broke records, expanded our Bitcoin treasury, and solidified our position as the leading Bitcoin Treasury in Asia… pic.twitter.com/K2HsOS8TaZ
– Simon Gerovich (@gerovich) January 5, 2025
Gerovick named at least four targets for Metaplanet this year. The main goal of the company is to expand its BTC holdings to 10k Bitcoin. In addition, Metaplanet also plans to promote transparency, leverage partnerships to promote Bitcoin adoption and explore other innovative opportunities that could grow the company's influence in the Bitcoin and blockchain niche.
Investment plans come at a time when conditions are favorable
The Japanese company's aggressive moves into the crypto space come at a favorable time in the market and better price expectations. Both Bitwise and VanEck predict that Bitcoin will trade anywhere from $180k to $200k this year. They believe that the major digital asset can trade at higher price points if the US government approves the plan to adopt the strategic digital asset portfolio.
Other analysts offer bolder price predictions for Bitcoin and possible better performance from altcoins thanks to a second Trump administration.
According to Gerovich, if the US government pushes with the Bitcoin strategic resourcesthen others can follow suit. The CEO of Metaplanet said that Japan is one of the first countries to follow, and other Asian countries will implement the same initiative.
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Starting to move
In the same post, Gerovich refers to the company's initiative as a “movement” anchored on its commitment to excellence. He then teases his followers, saying that 2025 will be another breakthrough year for Metaplanet in terms of innovation, progress and success.
Metaplanet's Bitcoin holdings are currently the largest in Asia and 15th among global public companies. The company first started investing in Bitcoin last year, as Bitcoin get up largely due to increased institutional adoption.
Featured image from Pixabay, chart from TradingView
