Key Takeaways
- Metaplanet now holds 360.368 BTC after a new purchase.
- The company spent 500 million yen on 57.273 BTC.
- Metaplanet's stock surged 11% following the announcement.
Japanese investment company Metaplanet has purchased an additional 57.273 Bitcoin for 500 million yen ($3.4 million), bringing its total holdings to 360.368 BTC.
This purchase concludes the company’s plan to invest 1 billion yen in Bitcoin.
The average purchase price for this latest batch was 8,730,117 yen per Bitcoin.
Strategy
Since starting its Bitcoin accumulation strategy on April 22, 2024, Metaplanet has spent 3.45 billion yen in total, acquiring Bitcoin at an average price of 9,573,556 yen per coin.
The company initially bought 97.8 BTC in its first transaction worth 1 billion yen.
10 billion yen raise
Metaplanet, often compared to MicroStrategy for its Bitcoin buying approach, is now setting its sights on raising 10 billion yen, intending to allocate 8.5 billion yen for further Bitcoin acquisitions.
Following the news, Metaplanet’s stock price surged by 11%, jumping from ¥1,086 to a high of ¥1,295 before stabilizing at ¥1,193. This boost came amid a broader market recovery, where Bitcoin rose by 4.5% and Ethereum by 3%.
Public companies worldwide continue to add Bitcoin to their portfolios, with leaders like MicroStrategy holding 226,331 BTC, followed by Marathon Digital with 17,320 BTC.
