The Bitcoin holdings of the Japanese publicly listed company Metaplanet have surpassed those of El Salvador

BlockBeats News, May 12th: Simon Gerovich, CEO of the Japanese publicly traded company Metaplanet, announced on social media today that after acquiring an additional 1,241 bitcoins, Metaplanet's total bitcoin holdings have increased to 6,796 bitcoins, surpassing El Salvador's holdings (which stand at 6,714 bitcoins).

Reportedly, the CEO of Metaplanet previously served as the head of the stock derivatives division at Goldman Sachs. Since 2013, he has been operating Metaplanet as a hotel developer (formerly Red Planet Japan Inc.). However, the pandemic caused an economic slowdown, forcing the company to close most of its hotels, leaving only one operational. When the company's market capitalization dropped to around $15 million, UTXO Management made an investment, leading the company to adopt a bitcoin strategy. Since then, Metaplanet's shareholder count has grown to nearly 50,000 people, and its market capitalization has surged to $2 billion, making it the best-performing stock among companies with a market cap exceeding $250 million globally in 2024. The company recently announced the largest-ever public equity financing in Asia, planning to raise $750 million to purchase bitcoin.