Catenaa, Monday, May 19, 2021- Japanese investment firm Metaplanet has purchased 1,004 bitcoins for approximately $104.3 million, pushing its total crypto holdings to 7,800 BTC as part of its aggressive treasury strategy.
The company disclosed the acquisition Monday, stating it paid an average price of $103,873 per bitcoin.
With this purchase, Metaplanet’s total BTC assets, bought for $712.5 million at an average price of $91,343, are now valued around $806 million based on current market rates.
Metaplanet began accumulating bitcoin in April 2024 with the goal of reaching 10,000 BTC by the end of 2025. The Tokyo-listed firm has become Asia’s largest corporate holder of bitcoin and now ranks 11th globally, trailing only behind giants like Strategy, led by Michael Saylor, which holds 568,840 BTC.
To finance its crypto push, Metaplanet has issued 15 bond offerings, including a $15 million round announced last week. The latest purchase comes amid a bitcoin rally that has seen prices hover near all-time highs, with BTC trading at $103,343.
Shares of Metaplanet rose 12.2% on the Tokyo Stock Exchange following the news, according to Yahoo Finance.
