Metaplanet (3350) is eyeing up “part two” of its bitcoin treasury technique, the Financial Times reported on Tuesday, citing an interview with CEO Simon Gerovich.
Metaplanet, which has the largest corporate bitcoin stash outside of North America, will use BTC as collateral to finance acquisitions of cash-generating companies, Gerovich stated.
The Japanese resort firm turned bitcoin investor acquired 2,205 BTC this week, rising its holdings to fifteen,555 BTC ($1.7 billion) and is targeting a holding of 210,000 by the top of 2027.
“We have to accumulate as a lot bitcoin as we will . . . to get to some extent the place we’ve reached escape velocity and it simply makes it very tough for others to catch up,” Gerovich stated, in response to the FT’s report.
“Then we have now part two . . . when bitcoin, like securities or authorities bonds, will be deposited with banks after which they’ll present very enticing financing towards that asset. We’ll get money that we will use to purchase worthwhile companies, cash-flowing companies.”
Cryptocurrency-backed lending is offered by a number of crypto-native companies, however is uncommon amongst conventional banks.
Gerovich added that part one would in all probability final 4 to 6 years, after which it will change into incrementally harder to amass BTC on account of tightening availability.
Metaplanet’s Tokyo-listed shares closed at 1,565 yen ($10.71) on Tuesday, 0.84% larger on the day. The corporate didn’t instantly reply to CoinDesk’s request for additional remark.
Learn extra: Metaplanet Picks Up Additional 2,205 BTC, Holdings Now Cross 15,555 Bitcoin