Metaplanet eyes digital bank acquisition in phase 2 of Bitcoin strategy
Metaplanet aims to leverage its growing Bitcoin treasury to acquire cash-generating businesses, with a digital bank in Japan among its possible targets.
Japanese firm Metaplanet plans to eventually use its Bitcoin reserves to acquire cash-generating businesses, possibly including a digital bank in Japan.
In a recent interview with the Financial Times, CEO Simon Gerovich said the company is racing to accumulate as much Bitcoin (BTC) as possible before turning its holdings into leverage for expansion.
“We think of it as a Bitcoin gold rush,” Gerovich said. “We need to accumulate as much Bitcoin as we can… to get to a point where we’ve reached escape velocity and it just makes it very difficult for others to catch up.”