Metaplanet, a company offering specialized consulting services for adopting Bitcoin, has made its largest Bitcoin purchase to date. It recently acquired 620 Bitcoins following a dip in the trading prices of the cryptocurrency.
New Bitcoin Purchase
Today, Metaplanet revealed its total acquisition of 619.7 Bitcoins, estimated at about $60 million, with an average price of approximately $96k per Bitcoin. This marks a significant milestone for the company, quadrupling its previous record of acquiring around 159.7 BTC in October.
Metaplanet's Achievements and Strategies
According to reports, Metaplanet currently holds a massive stash of 1,762 BTC, valued at roughly $168 million, with an average purchase price of about $75,600 per BTC. The firm has seen a 310% Bitcoin yield in just three months starting from October 2024. The Bitcoin acquisition strategy remains a primary value driver for the shareholders.
Reasons for Share Jump
In 2024, shares rose by 2,100% primarily due to the company's extensive Bitcoin adoption strategy. Recently, Metaplanet generated about 9.5 billion yen ($60.6 million) through two portions of bond issuance to accelerate its Bitcoin purchases. Last week, a 5 billion yen ($31.9 million) bond was issued following a previous 4.5 billion yen ($28.7 million) issuance earlier in the week.
Metaplanet is actively advancing its Bitcoin purchasing strategy, significantly enhancing its presence in the cryptocurrency industry. The bond issuance and successful acquisitions highlight the company's determination to strengthen its market position.
