Metaplanet, a Japanese investment firm, announced the acquisition of 1,112 BTC for approximately $117.2 million, raising its total Bitcoin holdings to 10,000 BTC. This announcement coincides with the firm's approval of a $210 million bond issuance to EVO Fund, intended to fund further Bitcoin purchases. The specific timing of these transactions suggests a strategic link between the bond issuance and BTC acquisition. CEO Simon Gerovich highlighted that the firm has amassed 10,000 BTC for about $947 million, averaging approximately $94,697 per Bitcoin. Metaplanet aims to build its holdings to 210,000 BTC by 2027, representing around 1% of Bitcoin’s total supply. This expansion strategy is bolstered by their position as a Bitcoin treasury firm, having rebranded from its origins in the hotel and tech sectors. Despite its growing Bitcoin holdings, the company faces skepticism, being one of the most shorted stocks in Japan, with analysts suggesting its valuation implies a dramatically higher Bitcoin price.

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