Metaplanet buys 1,004 bitcoin for $104 million, pushing total holdings to 7,800 BTC
Quick Take
- The Japanese investment firm purchased another 1,004 BTC for roughly $104.3 million.
- This brought its total holdings to 7,800 BTC, worth about $806 million based on current market prices.
Metaplanet, often dubbed Asia's Strategy for its continued bitcoin accumulation, purchased an additional $104.3 million worth of bitcoin as it remains bullish on the world's largest cryptocurrency.
The Japanese investment firm disclosed on Monday that it acquired 1,004 BTC at an average price of $103,873 per Bitcoin.
This brought its total holdings to 7,800 BTC, acquired for about $712.5 million at $91,343 per Bitcoin, according to its CEO Simon Gerovich. Based on current market prices, the company's total bitcoin holdings are worth about $806 million.
Metaplanet's latest BTC purchase comes amid a rally that has pushed bitcoin near its all-time high. Bitcoin was trading flat over the past 24 hours at $103,343 at the time of writing, according to The Block's price page.
Metaplanet began accumulating bitcoin in April 2024 as part of its crypto treasury strategy, steadily growing its holdings toward its goal of reaching 10,000 BTC by the end of 2025.
The Tokyo-listed firm has been funding its bitcoin purchases through multiple bond issuances. Most recently, it announced a $15 million offering last week, which is its 15th sale of ordinary bonds.
Metaplanet is the largest publicly listed corporate bitcoin holder in Asia and ranks 11th globally, according to data from Bitcointreasuries.net. Strategy, led by Michael Saylor, tops the list with 568,840 BTC.
Metaplanet's stock has jumped 12.2% in Japan so far on Monday, with trading still underway, according to Yahoo Finance.
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