Tokyo-listed Metaplanet adds 162 BTC to company treasury, stock jumps 8% midday
Quick Take
- Metaplanet announced that it has purchased 162 BTC to its bitcoin holdings, bringing the total to 3,050 BTC.
- The company aims to expand its holdings to 10,000 BTC by the end of this year.
Tokyo-listed investment firm Metaplanet announced Wednesday that it has purchased an additional 162 BTC, bringing up its total holdings to 3,050 BTC.
The company spent around $13.5 million to acquire the latest batch at $83,123 per bitcoin, Metaplanet CEO Simon Gerovich said on X. Its total bitcoin holdings are worth approximately $249.4 million at current market rates, while it was acquired for roughly $253.7 million.
Since announcing its bitcoin acquisition strategy in April 2024, the company has continued to accumulate bitcoin, solidifying its commitment by designating bitcoin treasury operations as a core business line in December.
Its last purchase was made one week ago, when it purchased 497 BTC with $43.9 million. The company has acquired nearly 1,300 BTC this year so far.
Metaplanet appears to be pressing on toward its goal of accumulating 10,000 BTC by the end of this year. It also said it targets to hold 21,000 BTC by the end of 2026.
The company's stock price has risen 8.1% to 3,610 yen so far today in Japan at the time of writing, while it's still trading in the afternoon session, according to Yahoo Finance data.
Meanwhile, bitcoin rose 2% in the past 24 hours to trade at $81,847 as of publication time, The Block's bitcoin price page showed.
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