Key Takeaways
- Metaplanet increased its Bitcoin holdings to 1,018 BTC.
- The firm invested an additional $10.4 million in Bitcoin.
- Metaplanet's stock has risen 610% year-to-date.
Japanese investment firm Metaplanet Inc. has expanded its Bitcoin holdings to 1,018.17 BTC, worth $68.8 million, after purchasing an additional 156.78 BTC for $10.4 million.
The company acquired the Bitcoin at an average price of ¥10.2 million ($66,436) per coin, continuing its “ongoing accumulation strategy.”
Treasury asset
Metaplanet began increasing its Bitcoin reserves after a May 2024 decision to adopt Bitcoin as a strategic treasury reserve asset.
From June to September, the firm’s holdings jumped from 141.07 BTC to 398.83 BTC, and with this latest purchase, it has crossed the 1,000 BTC mark.
The company raised ¥10 billion ($66 million) through stock acquisition rights, boosting its Bitcoin acquisition efforts. CEO Simon Gerovich noted that Metaplanet is now one of the largest Bitcoin holders in Asia.
Despite the increasing Bitcoin reserves, Metaplanet clarified that owning shares of the company does not equate to having a direct interest in its Bitcoin holdings. The firm’s stock has risen 14.7% in the past month and surged 610% year-to-date.
