Metaplanet's Bitcoin Buy Spree
Japanese firm Metaplanet has significantly increased its Bitcoin holdings, propelling it into the top five publicly listed Bitcoin holders. On June 30th, the company purchased an additional 1,005 BTC at an average price of $107,601, bringing its total Bitcoin holdings to 13,350 BTC.
Metaplanet's Growing Bitcoin Treasury
This recent purchase, valued at approximately $108.1 million, adds to Metaplanet's already substantial Bitcoin holdings acquired at a total cost of $1.31 billion, averaging $97,832 per Bitcoin. This move follows Metaplanet's recent success in surpassing Tesla in Bitcoin holdings.
Metaplanet's aggressive Bitcoin acquisition strategy is further evidenced by its recent issuance of its 19th Series of Ordinary Bonds, valued at nearly $208 million, fully subscribed by EVO FUND. The company intends to utilize these funds for repurchasing previously issued bonds and for further Bitcoin acquisitions.
The company recently announced a $5 billion capital allocation for Bitcoin purchases through its US subsidiary. Over the past three months alone, they have acquired 10,000 BTC. CEO Simon Gerovich stated, "Just 3 months ago, we announced live at our shareholder meeting that we hit 3,350 BTC — and now we’ve added 10,000 more to reach 13,350 BTC."
Metaplanet has set an ambitious target of acquiring 30,000 BTC by the year-end and ultimately aims to own 1% of the total BTC supply (210,000 BTC) by the end of 2027, as part of its "555 Million Plan."
Stock Price Surge
Following the announcement of the latest Bitcoin purchase, Metaplanet's stock price surged 10% to 1633 JPY, recovering from a recent pullback below 1,500 JPY. This positive market response reflects investor confidence in Metaplanet's strategic Bitcoin investment.
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