Metaplanet expands Bitcoin reserve and exceeds 1,000 BTC
Japanese investment firm Metaplanet Inc. acquired an additional $10.4 million worth of Bitcoin, bringing its reserves to a total of 1,018.17 BTC. The acquisition follows the ongoing cryptocurrency accumulation strategy announced by the company. With this additional purchase, Metaplanet places itself among the largest corporate holders of BTC in Asia, according to Simon Gerovich, CEO of the company, who announced the advance through the X platform (formerly Twitter).
The most recent purchase included 156.78 BTC, purchased at an average price of 10.2 million yen (about US$66,436) per unit, according to a statement issued this Monday (28). This movement occurs in a context of significant increases in Metaplanet's Bitcoin reserves in recent months, since the company, in May, declared that it would adopt BTC as a strategic asset for its treasury reserve.
Metaplanet continues to stack Bitcoin
Metaplanet records indicate that its Bitcoin reserves grew from 141.07 BTC in June to 398.83 BTC by the end of September. With the recent investment, the company's reserves now exceed 1,000 BTC, reinforcing the cryptocurrency-based treasury diversification strategy.
According to the company, cryptocurrency acquisitions are financed by capital market activities and operating revenues. Last week, for example, Metaplanet raised approximately 10 billion yen (equivalent to approximately US$66 million) through the completion of its 11th share vesting rights issue plan, with the participation of 13,774 individual shareholders. Under this plan, shareholders had the possibility of purchasing shares at a discount, reinforcing the company's capital.
Metaplanet also highlighted that it has historically not paid dividends on its common shares. Thus, the company clarified that ownership of shares in the company does not grant direct participation in the Bitcoin assets it holds.
On the stock market, the price of Metaplanet shares rose 5.9% in Monday's session in Japan, reaching 1,137 yen, according to data from Google Finance. The company has gained 14.7% in the last month and 610% since the beginning of the year. At the same time, the Nikkei 225 index registered an increase of 2.07% to date.
The price of Bitcoin today rose 2.3% to $68,867, according to data from CoinGecko. The largest cryptocurrency by market value has already appreciated by more than 100% in the last year.