Metaplanet CEO Predicts ‘Bitcoin Gold Rush,’ Says Company Wants To Accumulate Enough BTC To Reach ‘Escape Velocity’: Report

The CEO of Bitcoin hoarder Metaplanet says the company is looking to accumulate so much BTC that it will become impossible for others to catch up in the future.

Speaking to the Financial Times, Simon Gerovich says the firm is taking advantage of Bitcoin’s “gold rush” moment by plotting a long-term strategy to build one of the world’s largest BTC treasuries before pivoting into other investment opportunities.

Says Gerovich,

“We think of it as a Bitcoin gold rush… 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.

Then we have phase two, when Bitcoin, like securities or government bonds, can be deposited with banks and then they’ll provide very attractive financing against that asset. We’ll get cash that we can use to buy profitable businesses, cash-flowing businesses.”

Metaplanet previously announced that its goal was to own at least 210,000 BTC by the end of 2027.

The company’s BTC holdings recently surpassed Coinbase, the largest crypto exchange in the world, which has been in operation since Bitcoin was below $30.

According to BitcoinTreasuries.net, Metaplanet holds 15,555 BTC, making it the fifth-biggest Bitcoin treasury in the world. Hitting the 210,000 mark would make it the second biggest in the world, just behind Michael Saylor’s Strategy.

Gerovich says the company is still in the “really, really early” stages of its plan, which he says could transition to a strategy that uses Bitcoin as collateral to borrow and buy cash-flowing assets like profitable businesses.

“Four to six years is probably phase one in this Bitcoin accumulation phase, and then beyond that it becomes incrementally more difficult.”

 

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