Metaplanet Scooped Up Additional $13 Million In Bitcoin Ahead Of Price Plunge, Pushing Total Holdings To 2,235 BTC
Japanese public-traded company Metaplanet, which emulates Strategys Bitcoin treasury model, has bought the top spending roughly $13 million on the biggest cryptocurrency just hours before its Tuesdays drop to a three-month low.
Metaplanet Purchases Another 135 BTC
Metaplanet, which trades on the Tokyo stock exchange, said it had acquired Bitcoin at an average price of ¥14,360,449 ($96,185) per coin. The companys latest purchase brings its total Bitcoin stockpile to 2,225 Bitcoin valued at approximately $196 million at current prices.
This BTC buy happened right before Bitcoins price plunged to as low as $87,115 on Tuesday its lowest level since mid-November. The crypto king is trading for about $88,929 as of publication time, according to CoinGecko.
Metaplanets treasury stash places it 14th among publicly traded companies, according to Bitcoin Treasuries.
So far this year, Metaplanet has achieved a BTC yield of 23.2%. According to its latest disclosure, the Tokyo-based company acquired all its Bitcoin for 12,441,856 yen at an average price of $81,195 per BTC.
Metaplanet has been on a Bitcoin buying spree in recent months after announcing in May 2024 that it had adopted the apex crypto as its strategic treasury reserve asset.
Meanwhile, Michael Saylor-led Strategy, remains the largest corporate Bitcoin holder, boasting nearly 500,000 BTC in total holdings. Notably, Strategy pioneered the BTC Yield indicator a fundamental performance metric that calculates the percentage change over time in the ratio of the companys total Bitcoin holdings to its assumed diluted outstanding shares.
Metaplanet Already Owns 0.01% Of Total Bitcoin Supply
Metaplanets aggressive accumulation follows its announcement in January that it was looking to boost its Bitcoin holdings by 470% within the year, to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
According to the companys Director of Bitcoin Strategy Dylan Le Clair, the company has since completed 5.54% of its previously announced 21 Million Plan, raising approximately $47 million through the exercise of stock acquisition rights to stack even more BTC.
Just last week, Metaplanet announced that it already owned approximately 0.01% of Bitcoins total supply.
Text source: ZyCrypto
