Japanese investment firm Metaplanet has announced a significant increase in its Bitcoin holdings, reaching a total of 10,000 BTC.
Metaplanet's Recent Purchase
Last week, Metaplanet acquired 1,112 Bitcoin for 16.88 billion Japanese yen ($117 million). The firm now holds 10,000 BTC, surpassing Coinbase's 9,267 BTC. The average purchase price stands at 13.9 million Japanese yen, approximately $96,400 per Bitcoin.
Bond Issuance for Bitcoin Acquisition
On the same day, Metaplanet announced plans to issue bonds worth $210 million, which will be utilized for further Bitcoin purchases. The company aims to increase its holdings to 210,000 BTC by the end of 2027.
Metaplanet's Stock Dynamics
The recent announcements led to Metaplanet's stock (3350T) soaring over 22% on the Tokyo Stock Exchange, peaking at 1,860 Japanese yen. Year-to-date, the company's stock has surged by 417%.
Metaplanet is actively changing its investment strategy in Bitcoin and demonstrating significant growth in its holdings, indicating increasing confidence among institutional investors in cryptocurrencies.
