The Japanese company Metaplanet has announced the acquisition of an additional 150 Bitcoin, raising its holdings to 3,200 BTC. The purchase was made at an average price of $83,508 per coin, highlighting the company's ambition to attain 21,000 BTC by 2026.
Purchase and Strategy
Metaplanet recently announced purchasing 150 additional Bitcoin, increasing its holdings to 3,200 BTC. This move is part of their strategic plan to accumulate 21,000 BTC by 2026. The company follows a similar investment strategy to MicroStrategy, which has also been actively accumulating Bitcoin.
Market Reaction and Metaplanet Stock
Metaplanet stock (TYO: 3350) has shown significant growth, rising 11.23% over the past week and 290.87% over the past six months. This is attributed to the company's substantial Bitcoin investments. The company's market cap stands at 157.85 billion JPY, with net income reaching 6.72 billion JPY in the last quarter of 2024. Analysts expect that the stock might test resistance levels at 6,100 JPY and 7,020 JPY.
Company Financials
In 2024, Metaplanet's revenue reached 1.06 billion JPY. The net income grew to 6.40 billion JPY, indicating a 602% growth in the company's financials. The majority of the company's shares are freely traded.
Metaplanet continues to strengthen its position in the cryptocurrency market by following its ambitious Bitcoin accumulation strategy. The company's stock has shown robust growth, attracting investor attention.
