Metaplanet Inc. recently made a significant purchase of Bitcoin, raising its reserves to 10,000 BTC. This news has positively influenced the company's stock prices.
Acquisition of Bitcoin
Tokyo-based Metaplanet Inc. acquired 1,112 BTC at an average cost of $105,435, totaling approximately $117.2 million. As a result of this transaction, the firm's total Bitcoin holdings reached 10,000.
Company's Growth Strategy
Earlier this month, Metaplanet purchased 1,088 BTC, adding to its assets. The company plans to use funds from the launch of its 18th series of ordinary bonds, valued at 210 million, for further Bitcoin acquisitions.
Market Position
Following these announcements, Metaplanet's stock rose by 22% to 1,830 yen. Currently, the company has surpassed Coinbase, which holds 9,267 BTC, establishing itself as a leading market player. To date, the firm's digital assets have produced a year-to-date profit of 266.1%.
This strategy actively strengthens Metaplanet's stance in the cryptocurrency sector, positioning it as one of the leading holders of Bitcoin globally.
