Japanese investment firm Metaplanet Inc. has bought an additional $10.4 million worth of bitcoin, bringing its total holdings to over 1,000 BTC as part of its “ongoing accumulation strategy.”
The Tokyo-listed firm announced on Monday that it purchased another 156.78 BTC ($10.4 million) at an average price of 10.2 million yen ($66,436) per bitcoin. This raised its total holdings to 1,018.17 bitcoin ($68.8 million), “making it one of the largest corporate holders of bitcoin in Asia,” Simon Gerovich, CEO of Metaplenet, said on X.
Metaplanet has been on a bitcoin buying spree in recent months following its May announcement to adopt bitcoin as a strategic treasury reserve asset. According to the company's statement, its bitcoin holdings grew from 141.07 BTC at the end of June to 398.83 BTC by the end of September. The holdings have now surpassed 1,000 BTC.
“Since adopting bitcoin as a treasury reserve asset, the company has strategically increased its total bitcoin holdings through acquisitions funded by capital market activities and operational income,” Metaplanet said.
Last week, for example, Metplanet raised about 10 billion yen ($66 million) by completing its 11th planned stock acquisition rights, with participation from 13,774 individual shareholders. Under the plan, shareholders could buy shares at a discounted rate.
The company noted that it has not “historically paid dividends on our common shares” and that owning its common shares does not equate to owning any interest in the bitcoin the firm holds.
Metaplanet’s stock climbed 5.9% so far on Monday in Japan, currently changing hands at 1,137 yen, according to Google Finance. The stock is still trading in the afternoon session. Its stock price has risen 14.7% over the past month and 610% year-to-date. The Nikkei 225 index was up 2.07% so far today.
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