Metaplanet buys $12.5 million worth of BTC, issues bonds to purchase more bitcoin
Quick Take The Tokyo-listed firm disclosed today that it bought an additional 150 BTC, boosting its total holdings to 3,200 BTC. It also raised $13.3 million through a bond issuance to fund its bitcoin purchases.
Metaplanet, a Japanese investment firm that continues to accumulate bitcoin, has purchased an additional $12.5 million worth of the world's largest cryptocurrency. The Tokyo-listed firm disclosed on Tuesday that it acquired an additional 150 BTC for about $12.5 million at an average price of $83,508 per bitcoin.
The latest purchase boosted the firm's total holdings to 3,200 BTC, acquired for about $266.2 million, according to Metaplanet CEO Simon Gerovich. Based on current market prices, the firm's 3,200 BTC is worth about $265.9 million.
Also on Tuesday, Metaplanet raised 2 billion yen , or about $13.3 million, through bond issuance to buy more bitcoin.
Metaplanet has embarked on a bitcoin buying spree since adopting a bitcoin accumulation strategy in April 2024. It aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
Metaplanet's stock closed down 0.49% at 4,030 yen on Tuesday in Japan. Its stock price gained 15.8% year-to-date and has climbed 1,819% over the past year, according to Yahoo Finance. The Nikkei 225 index added 1.2% today.
Bitcoin traded down 0.2% at $83,116 at the time of writing, according to The Block's price page .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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