Metaplanet Expands Bitcoin Portfolio
Metaplanet, a Japan-based Bitcoin investment firm, continues to expand its portfolio. The company announced the purchase of 518 more Bitcoins for approximately $61.4 million. Metaplanet, which is traded on the Tokyo Stock Exchange, made the purchase at an average price of $118,519.
CEO Simon Gerovich stated that with the latest purchase, the company’s total Bitcoin holdings have reached 18,113 BTC. He noted that the total cost was $1.85 billion, with an average unit price of $101,911.
Metaplanet’s announcement follows the company’s announcement earlier this month of a plan to issue 555 billion yen (approximately $3.7 billion) in new perpetual preferred shares. This funding will be used to support the firm’s Bitcoin acquisition strategy.
According to Bitcointreasuries data, Metaplanet currently holds the sixth-largest Bitcoin holdings globally. At the top of the list is Strategy, led by Michael Saylor. Strategy recently purchased 155 BTC for approximately $18 million, bringing its total holdings to 628,946 BTC.
Bitcoin is trading at $118,883, down 2.4% in the last 24 hours, but up 4% for the week. Metaplanet shares were down 1.6% as of midday Tuesday, but remain up 183% year-to-date, according to Yahoo Finance data.
*This is not investment advice.
