Japanese investment firm Metaplanet has made its largest Bitcoin purchase to date, acquiring 620 BTC for $60.6 million.
Metaplanet's largest Bitcoin acquisition
Metaplanet acquired 619.7 BTC for ¥9.5 billion ($60.6 million), bringing its total holdings to 1,761.98 BTC. The purchase followed a dip in Bitcoin prices, allowing Metaplanet to pay an average price of approximately $97,786 per coin. The acquisition was announced on December 23, following a significant bond issuance by the company.
Metaplanet's financial strategy
To accelerate its Bitcoin strategy, Metaplanet issued two zero-interest bonds, raising ¥9.5 billion. These bonds, issued earlier in the week, are set to mature in June 2025. The company aims to use the funds to expedite Bitcoin purchases planned for 2025 into the current fiscal year.
Growth and financial outlook
Metaplanet's aggressive Bitcoin strategy is yielding significant results for its shareholders. The company reported a 310% Bitcoin yield between October and December, a sharp increase from the previous quarter. The firm now plans to expand its BTC operations into a dedicated business line, incorporating loans, equity, and other financial instruments.
Despite its Bitcoin success, Metaplanet's stock fell 0.98% after considerable growth this year. However, the company continues to solidify its position as a significant player in the cryptocurrency market.
