Metaplanet Reveals Yet Another Move to Add to $2.7 Billion Bitcoin Stash, Taking $130M Loan

Core Insights - Metaplanet's stock has increased over 2% following the announcement of a $130 million loan secured by its Bitcoin holdings to purchase more Bitcoin, with shares rising nearly 5% year-to-date [1][3] - The company aims to acquire 210,000 Bitcoin by 2027, representing 1% of the total supply, and currently holds 30,823 BTC valued at approximately $2.7 billion [3] - The broader market for digital assets has faced challenges, with Bitcoin's price down 30% from its October peak of $126,080, currently trading around $87,516 [5] Company Strategy - Metaplanet has shifted focus from its core hotel and technology business to Bitcoin acquisition since 2024, positioning itself as a significant player in the crypto treasury space [3] - The funds from the Bitcoin Income Generation business will be utilized as collateral for selling Bitcoin options to generate premium income [2] - The company is exploring new capital-raising mechanisms, including a product that would provide dividends to investors [7] Market Context - The digital asset market has seen a surge in treasuries as companies attempt to replicate the treasury strategy initiated by Strategy, which has raised concerns among skeptics due to recent price declines [4] - Strategy, the largest corporate holder of Bitcoin, has faced a 41% decline in stock value this year, raising concerns about potential exclusion from equity indices [6] - Despite market volatility, there is renewed optimism among users regarding Bitcoin's potential to rebound, with a 67% chance predicted for it to rise to $100,000 [5]