Key Takeaways
- Metaplanet added 124.1 BTC to its treasury, now holding 1,142.2 BTC.
- Its stock surged 15.1%, marking a 1,334% year-to-date increase.
- The company issued bonds to fund further Bitcoin purchases.
Shares of Japanese investment firm Metaplanet Inc. surged 15.1% on Tuesday following the company’s announcement of a significant Bitcoin purchase.
The Tokyo-listed firm disclosed acquiring an additional 124.1 BTC at an average price of 14.1 million yen ($91,266) per Bitcoin, totaling $11.3 million.
This acquisition brings Metaplanet’s Bitcoin holdings to 1,142.2 BTC, worth approximately $104.8 million.
Stock price
The announcement boosted Metaplanet’s stock price to 2,295 yen, with a daily turnover of 21.9 billion yen ($141.7 million).
The company’s stock has risen an impressive 1,334% year-to-date, far outpacing the Nikkei 225 index, which gained 0.5% on the same day.
CEO Simon Gerovich noted on X:
Metaplanet ranked 29th out of 4,000 listed companies in Japan by trading value, surpassing much larger market peers such as Itochu and NTT.
Bitcoin holdings
This marks another step in Metaplanet’s Bitcoin-focused strategy, first unveiled in May when the company adopted Bitcoin as a treasury reserve asset. Between October 1 and November 19, the firm reported a 186.9% yield on its BTC holdings.
Additionally, Metaplanet recently issued one-year bonds worth 1.75 billion yen ($11.3 million) to fund further Bitcoin purchases. The bonds are set to mature on November 17, 2025.
While Metaplanet’s moves are noteworthy, MicroStrategy remains the largest corporate Bitcoin holder globally, with 331,200 BTC after its latest acquisition of 51,780 BTC.
