Metaplanet Inc. has announced the purchase of 1,234 bitcoins for $132.7 million, increasing its total holdings to 12,345 BTC.
Bitcoin Purchase by Metaplanet
On June 26, Metaplanet announced the acquisition of 1,234 BTC at nearly $107,557 per bitcoin. With this purchase, the company raised its holdings to 12,345 BTC, valued at nearly $1.21 billion at an average price of $97,036 per BTC.
CEO Simon Gerovich shared the news of the purchase on X, stating that Metaplanet has now surpassed Tesla to become the seventh-largest holder of Bitcoin.
Company's Financial Strategy and Plans
On June 23, Metaplanet also announced the acquisition of 1,111 BTC for $118.2 million at an average price of $106,408 per bitcoin. The company has secured 74.9 billion JPY in equity capital to fund further purchases. Metaplanet aims to increase its Bitcoin assets to 30,000 BTC by the end of 2025, which would allow it to become the fourth-largest corporate holder of Bitcoin.
Bitcoin Market and Metaplanet's Stock Impact
Recent activities by Metaplanet have led to changes in the stock market. The company’s shares saw a slight rebound, but decreased by 1% to 1,574 yen the following day. Over the last month, Metaplanet's stocks have dropped by more than 12%, yet have risen nearly 353% year-to-date. Meanwhile, Bitcoin price continues to rise, reaching $107,901 with a low of $106,095 and a high of $108,305 in the last 24 hours.
Metaplanet's increase in Bitcoin holdings and future plans highlight the growing popularity of cryptocurrencies among corporate investors and their potential impact on the stock market.
