Metaplanet now fourth-largest public bitcoin holder after latest $620 million buy
Quick Take
- Metaplanet bought 5,268 BTC for around $623 million, pushing its total holdings to 30,823 BTC.
- This makes the company the fourth largest publicly-traded holder of bitcoin, according to CEO Simon Gerovich.
Japanese bitcoin treasury firm Metaplanet announced Monday that it acquired 5,268 BTC for 91.6 billion Japanese yen ($623 million), pushing total holdings to 30,823 BTC.
The latest purchase was made for 17.4 million yen per coin, which is roughly $118,328.
In a Wednesday post on X, Metaplanet CEO Simon Gerovich stated that the latest purchase made the company the world's fourth-largest publicly traded bitcoin treasury company, behind only Strategy, MARA Holdings, and XXI.
This major bitcoin acquisition follows a $632 million BTC purchase that was announced Sept. 21, which is the company's largest bitcoin acquisition to date.
Meanwhile, Metaplanet reported a quarterly revenue of 2.438 billion yen ($16.5 million) in Q3, which is a 115.7% growth from Q2, according to Gerovich.
"Q3 results demonstrate operational scalability and strengthen the financial foundation for our planned Metaplanet preferred share issuance, which supports our broader Bitcoin Treasury strategy," the company CEO wrote.
Last month, Metaplanet announced that it is raising $1.4 billion by issuing 385 million new shares, with the proceeds earmarked for bitcoin purchases. Its board also recently approved a new U.S. subsidiary Metaplanet Income Corp., to scale a growing “bitcoin income generation” line focused on derivatives and related activities.
Metaplanet's stock dropped 10.26% around 4:30 p.m. Monday in Japan, according to Yahoo Finance data. The stock has fallen 38% over the past month but remains up 48.3% year-to-date. Meanwhile, its U.S.-traded shares MTPLF closed up 8.86% at $3.96 on Tuesday, according to The Block's data.
Bitcoin is up 0.44% in the past 24 hours to trade at $114,488, according to The Block's bitcoin price page.
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