Metaplanet announced the acquisition of an additional 797 Bitcoins for $93.6 million, bringing their total Bitcoin holdings to 16,352 BTC.
BTC Acquisition Worth $93.6 Million
On July 14, Japan's Metaplanet announced its purchase of 797 BTC at an average price of $117,451 per Bitcoin. Following this acquisition, the company's total Bitcoin holdings reached 16,352 BTC, representing an investment of $1.64 billion at an average price of $100,191 per Bitcoin. CEO Simon Gerovich mentioned on X that the company acquired 7,464 BTC in just 30 days as part of its accelerated asset-building strategy.
Outstanding Debt and Unrealized Gain
Dylan LeClair, the director of Bitcoin strategy at Metaplanet, revealed that the company's net asset value for its Bitcoin holdings has exceeded $2 billion, with unrealized gains surpassing $370 million. The outstanding debt currently stands at $162.86 million. Previous reports outline that the company aims to become the fourth-largest corporate Bitcoin holder by the end of the year.
Company Stock Prices and Bitcoin Market
Despite the increase in shareholders, Metaplanet's stock price fell by 0.51% following the announcement of its latest Bitcoin purchase. The total number of shareholders has risen to 129,000. The stock closed at 1,552 yen, fluctuating between 1,536 and 1,599 yen on the last trading day. Experts cite the company's plans to increase Bitcoin reserves as potential reasons for the decline in stock prices. Meanwhile, Bitcoin's price has reached a record high, rising to $122,403 over the past day.
Metaplanet continues to develop its Bitcoin acquisition strategy, which is leading to an increase in its assets and shareholder base despite fluctuations in stock prices.
