Key Takeaways
- Metaplanet's stock increased by 15.7% after buying 107 Bitcoin.
- The firm now holds 855.5 Bitcoin worth over $56 million.
- Metaplanet has doubled its Bitcoin holdings in October.
Shares in Japanese investment firm Metaplanet surged by 15.7% on October 15, following the company’s announcement of its latest Bitcoin purchase.
The firm added 106.976 Bitcoin, bringing its total holdings to 855.5 BTC, valued at over $56 million.
New purchase
Metaplanet disclosed that it spent approximately $6.7 million (1 billion yen) to acquire the latest batch of Bitcoin at an average price of $62,520 per coin, slightly below the market price of $66,200 at the time.
This marks their fifth major Bitcoin purchase this month, with the firm having already acquired 109 BTC on October 11, 108.8 BTC on October 7, and 132 BTC combined across October 1 and 3.
Since implementing its Bitcoin investment strategy in April, Metaplanet’s stock has increased by 480%, reflecting strong investor confidence.
The company’s strategy has been inspired by MicroStrategy and its executive chairman Michael Saylor, who leads one of the largest Bitcoin-holding firms globally.
Metaplanet’s growing Bitcoin reserves have positioned it as the 23rd largest public company holding Bitcoin.
