Japanese investment firm Metaplanet has announced a significant boost to its Bitcoin portfolio by acquiring over 2,200 BTC.
Metaplanet's Bitcoin Acquisition
According to the company's latest disclosure, Metaplanet purchased 2,205 Bitcoins for roughly $237.9 million. The average cost per Bitcoin was 15.64 million yen, bringing total holdings to 15,555 BTC.
Funding and Accumulation Strategy
Just prior to this acquisition, Metaplanet redeemed 6 billion yen worth of bonds issued in late June, using proceeds from newly exercised warrants. This strategy of accumulating Bitcoin has been funded through a mix of bond issuances and warrant exercises.
Comparison with Other Companies
Metaplanet currently ranks among the top five corporate Bitcoin holders, surpassing firms such as Tesla and Coinbase. It is close to claiming the fourth spot, being less than 4,000 BTC behind Riot Platforms.
If Metaplanet reaches its long-term goal of 210,000 BTC by 2027, it would control about 1% of Bitcoin's total supply.
