Japanese firm Metaplanet announced plans to increase its Bitcoin holdings using proceeds from a bond sale worth $11.3 million. The company aims to purchase more BTC, aligning with its "Bitcoin-first, Bitcoin-only" strategy.
Metaplanet, often compared to MicroStrategy for its aggressive BTC acquisition, had previously accumulated over 1,000 BTC. Despite the bond issuance, their stock showed slight movement, but it has surged 950% since adopting this strategy.
With Bitcoin’s supply capped at 21 million and increasing global demand, analysts predict a potential price rise, as Bitcoin reserves on exchanges decline. BTC, trading at $90,909, could see a price breakout due to decreasing supply and growing demand.
