Tokyo-based firm Metaplanet has made a significant move in the cryptocurrency market by acquiring 518 bitcoins valued at approximately $61.4 million.
Bitcoin Purchase and Financing Strategy
Metaplanet announced its latest acquisition, significantly enhancing its digital asset portfolio. The company aims to issue new perpetual preferred shares to raise capital up to 555 billion Japanese yen, equivalent to $3.7 billion. This financial strategy is intended to strengthen Metaplanet’s purchasing capacity and financial framework.
Metaplanet's Global Ranking
Metaplanet is positioned as the sixth largest global holder of Bitcoin, trailing behind prominent entities such as Strategy, MARA, and Riot. According to Bitcointreasuries data, Strategy holds the top position with a reserve of 628,946 bitcoins, while Metaplanet follows closely behind Trump Media & Technology Group with 15,000 BTC.
Bitcoin Market and Impact on Metaplanet's Stock
Recent market movements indicated a 2.4% decline in Bitcoin’s price over just 24 hours, reaching $118,868 as noted by CryptoAppsy. Despite this dip, Bitcoin’s weekly performance has improved by 4%. Metaplanet’s share price experienced a decrease of 1.6% in the Japanese market, contributing to a 37% downturn over the past month. However, the stock has seen a substantial rise of 183% since January.
Even in a complex market landscape, Metaplanet’s strategic decisions root the company firmly within the cryptocurrency domain, showcasing its vision and commitment to harnessing the power of digital currencies.
