Metaplanet buys $54 million worth of bitcoin, maintains 7th place globally with 17,595 BTC holdings
Quick Take
- The Tokyo-listed firm disclosed Monday its latest purchase of 463 BTC for $53.7 million.
- The latest bitcoin acquisition brought its total holdings to 17,595 BTC, acquired for $1.78 billion.
Japanese bitcoin treasury firm Metaplanet has acquired an additional 463 BTC for $53.7 million, continuing its accumulation of the world's largest cryptocurrency.
Metaplanet disclosed Monday that it purchased the latest 463 BTC at an average price of $115,895 per bitcoin. The company now holds a total of 17,595 BTC, acquired for approximately $1.78 billion at an average price of $101,422, according to its CEO Simon Gerovich.
The latest bitcoin acquisition follows the company's Friday filing of plans to raise up to 555 billion yen ($3.7 billion) through issuing new perpetual preferred shares to support its bitcoin buying strategy.
"Our goal is to have multiple tools to raise capital for buying Bitcoin," said Gerovich in a Sunday post on X. "On a Bitcoin standard, the mission is to continuously grow Bitcoin per share. Issuing perpetual preferreds is a highly accretive tool designed to maximize long-term shareholder value."
With total holdings of 17,595 BTC, Metaplanet currently ranks seventh globally in bitcoin holdings, behind Strategy, MARA, XXI, Bitcoin Standard Treasury Company, Riot, and Trump Media, according to data from Bitcointreasuries.
Metaplanet's stock fell 4.7% by midday Monday in Japan, according to Yahoo Finance data, with markets still open.
Meanwhile, Bitcoin traded up 0.8% in the past 24 hours at $114,645 late Sunday night, recovering slightly from a weekend dip, according to The Block's bitcoin price page.
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