Metaplanet adds $12.6 million worth of bitcoin after appointing Eric Trump to advisory board
Quick Take
- The Tokyo-listed firm bought an additional 150 BTC just a few days after it appointed Eric Trump to Strategic Board of Advisors.
- This brought the company’s total holdings to 3350 BTC.
Japanese investment firm Metaplanet acquired another $12.6 million worth of bitcoin, continuing its bitcoin accumulation strategy.
Metaplanet announced Monday that it purchased an additional 150 BTC at about $83,801 per bitcoin. This brought its total holdings to 3350 BTC, acquired for about $278.8 million, according to Metaplanet CEO Simon Gerovich. Based on market prices, the firm's 3350 BTC is currently worth about $291.3 million.
The firm's move came after it appointed Eric Trump, Donald Trump's second son, to join its Strategic Board of Advisors on Friday. Gerovich said Eric Trump's "business expertise and passion for BTC" will help drive the company's mission to build "one of the world’s leading Bitcoin Treasury Companies."
Metaplanet has been actively buying the world's largest cryptocurrency since it introduced its bitcoin adoption strategy in April 2024. The company aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
According to Bitcointreasuries.net, the Japanese firm is currently the 10th largest public corporate bitcoin holder in the world and the largest in Asia. Michael Saylor's Strategy remains at the top of the list with nearly 500,000 BTC.
Metaplanet's stock climbed 4.8% in Japan while it was still trading in the afternoon session at the time of writing. Google Finance data shows that its stock price has risen 38.7% since the beginning of this year.
Bitcoin is currently trading at $86,988, up 3.4% over the past 24 hours, according to The Block's price page.
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