Metaplanet Spends Another $12.6 Million Buying Bitcoin Just Days After Bringing On Eric Trump As Advisor
Bitcoin-focused Japanese public company Metaplanet has expanded its Bitcoin treasury, according to a March 24 announcement. The Tokyo-based company acquired an additional 150 BTC for $12.6 million, further solidifying its position among global corporate Bitcoin holders and bringing it one step closer to its plan of acquiring 21,000 BTC by 2026.
Metaplanets purchase, made at an average price of $83,801 per coin, brings its total Bitcoin holdings to 3,350 BTC, valued at around $291 million at current prices.
The latest buy comes after Metaplanet formed a new strategic board of advisors with Eric Trump, U.S. President Donald Trumps second son, as one of the appointees. Metaplanets CEO Simon Gerovich said Erics business acumen and love of the Bitcoin community will help drive the companys mission to build one of the worlds leading BTC Treasury companies.
Metaplanets Ambitious Bitcoin Strategy
Metaplanet has been aggressively purchasing the apex crypto since it adopted a Bitcoin Standard in April 2024. The investment firm aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026 which means it would own 1/1000th of all Bitcoin that will ever exist.
Metaplanet has issued over 44 million common shares of company stock to finance its Bitcoin buys. The use of stocks to raise funds to acquire BTC has given the company the moniker Asias MicroStrategy as the blueprint mirrors that of Michael Saylors Strategy (previously known as MicroStrategy).
With Metaplanets Bitcoin Yield performance showing impressive results 68.3% from January 1 to March 24 the companys BTC strategy has so far paid off, indicating massive growth for stakeholders. Bitcoin yield is a metric that shows the percentage change in the ratio of total BTC holdings compared to fully diluted shares outstanding, and it is used to assess the effectiveness of Metaplanets Bitcoin acquisition approach.
Metaplanets recent Bitcoin purchase makes it the 10th-largest corporate holder of Bitcoin and the largest in Asia, per data from Bitcoin Treasuries. Strategy leads the Bitcoin corporate holders list with over 500,000 BTC after its Monday $584 million buy.
Text source: ZyCrypto
