Metaplanet Keeps Stacking Bitcoin, Adds 1,004 BTC In Latest Purchase
Metaplanet continues its Bitcoin (BTC) buying spree. The Japanese investment firm scooped 1,004 Bitcoin for over $104 million as it remains bullish on the worlds largest and oldest cryptocurrency.
Metaplanet Now Holds 7,800 BTC
In a May 19 disclosure, Metaplanet stated it had further bolstered its BTC reserves with a fresh 1,004 Bitcoin purchase.
Metaplanet disclosed on Monday that it had bought more Bitcoin, this time 1,004 digital coins worth $104.3 million, at an average price of $103,873 per BTC.
The Tokyo-listed company now has 7,800 BTC, today worth $808 million. Data shows that Metaplanet is now the largest publicly listed corporate Bitcoin holder in Asia and ranks 11th globally.
Metaplanet CEO Simon Gerovich said on X that the firm, which also has a hotel business, had spent around $712.5 million buying its crypto, at an average price of $91,343 per Bitcoin.
Metaplanet started purchasing Bitcoin in April 2024 and has since implemented a treasury strategy modeled by Michael Saylors Strategy, which pivoted from software development to accumulate Bitcoin. Both firms have now rebranded themselves as Bitcoin treasuries that give investors exposure to the apex crypto through their publicly traded shares.
The latest tranche is part of Metaplanets long-term goal to reach 10,000 BTC by the end of this year. The Gerovich-led firm has been funding its BTC purchases via numerous bond issuances. Most recently, it announced a $15 million offering last week, representing its 15th sale of zero-interest ordinary bonds.
Metaplanets latest purchase comes as Bitcoin began flirting with its all-time high on Sunday, briefly touching $106,518, before settling to $103,152 at press time, according to data from CoinGecko.
Read more: https://zycrypto.com/metaplanet-keeps-stacking-bitcoin-adds-1004-btc-in-latest-purchase/
Text source: ZyCrypto
