Key Takeaways
- Metaplanet purchased 497 more BTC for $43.9 million, bringing its total to 2,888 BTC.
- The firm acquired its bitcoin holdings for $240.2 million, now worth approximately $251 million.
- Metaplanet aims to accumulate 10,000 BTC by 2025 and 21,000 BTC by 2026.
Japanese investment firm Metaplanet has added another 497 bitcoin (BTC) to its holdings, spending $43.9 million at an average price of $88,448 per BTC.
This latest acquisition brings its total bitcoin holdings to 2,888 BTC, valued at approximately $251 million at current prices.
Recent purchases
The firm disclosed the purchase on Wednesday, just two days after acquiring 156 BTC for $13.4 million.
Metaplanet has been aggressively accumulating bitcoin since announcing its acquisition strategy in April 2024.
In December, it formally designated bitcoin treasury operations as a core business.
Financial Overview
Metaplanet acquired its 2,888 BTC for a total of $240.2 million at an average purchase price of $83,172 per bitcoin.
With bitcoin currently trading at $86,943, the firm’s strategy has resulted in paper profits.
Long-term Goals
The company has outlined a long-term goal of acquiring 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
Metaplanet’s stock has reacted positively to its bitcoin strategy, rising 17% in Japan on Wednesday as the Nikkei 225 index edged up 0.55%.
Market Performance
Bitcoin itself has gained 4% in the past 24 hours, further supporting Metaplanet’s investment approach.
