3 months ago
Metaplanet (3350) is eyeing up "phase two" of its bitcoin treasury strategy, the Financial Times reported connected Tuesday, citing an interrogation with CEO Simon Gerovich.
Metaplanet, which has the largest firm bitcoin stash extracurricular of North America, volition usage BTC arsenic collateral to concern acquisitions of cash-generating businesses, Gerovich said.
The Japanese edifice institution turned bitcoin capitalist acquired 2,205 BTC this week, expanding its holdings to 15,555 BTC ($1.7 billion) and is targeting a holding of 210,000 by the extremity of 2027.
“We request to accumulate arsenic overmuch bitcoin arsenic we can . . . to get to a constituent wherever we’ve reached flight velocity and it conscionable makes it precise hard for others to drawback up," Gerovich said, according to the FT's report.
“Then we person signifier two . . . when bitcoin, similar securities oregon authorities bonds, tin beryllium deposited with banks and past they’ll supply precise charismatic financing against that asset. We’ll get currency that we tin usage to bargain profitable businesses, cash-flowing businesses.”
Cryptocurrency-backed lending is offered by a fig of crypto-native companies, but is uncommon among accepted banks.
Gerovich added that signifier 1 would astir apt past 4 to six years, aft which it would go incrementally much hard to get BTC owed to tightening availability.
Metaplanet's Tokyo-listed shares closed astatine 1,565 yen ($10.71) connected Tuesday, 0.84% higher connected the day. The institution did not instantly respond to CoinDesk's petition for further comment.
Read more: Metaplanet Picks Up Additional 2,205 BTC, Holdings Now Cross 15,555 Bitcoin
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