Key Takeaways
- Metaplanet buys an additional 107 Bitcoin for $6.9 million.
- Total Bitcoin holdings now exceed 500 BTC, valued at $32 million.
- Stock prices have surged by 420% since April’s Bitcoin purchases.
Metaplanet Buys Another 107 Bitcoin, Holding Now Over 500 BTC
Tokyo-based Metaplanet announced the purchase of an additional 107.9 Bitcoin at an average price of 9.26 million yen ($64,168) per Bitcoin, bringing the total value of the purchase to 1 billion yen ($6.9 million). The company borrowed $6.8 million from MMXX Ventures, a British Virgin Islands-based shareholder, to fund the purchase.
This acquisition raises Metaplanet’s total Bitcoin holdings to 506.7 BTC. The company initially began acquiring Bitcoin in April 2024, purchasing 117.7 BTC for $7.19 million. Since then, the firm has used Bitcoin as a strategic reserve asset, hedging against the volatility of the Japanese yen and the country’s growing debt burden.
Metaplanet’s stock price has surged by 420% since its first Bitcoin purchase, even though Bitcoin itself has decreased by 3% during the same period. The company now has the highest Bitcoin-to-market-capitalization ratio among publicly traded Asian firms, tied at 20%.
Metaplanet’s average purchase price across all its Bitcoin holdings stands at 9.37 million yen ($64,931) per BTC, solidifying its position as one of the largest Bitcoin holders in Asia.
