Metaplanet makes record breaking purchase of 620 BTC
In its largest-ever Bitcoin acquisition, Tokyo-based firm Metaplanet acquired about 620 Bitcoin at a price below $100,000. When Bitcoin was priced at about $96,000 on December 23, the company disclosed that it had purchased 619.7 Bitcoin for a little under $60 million.
*Metaplanet purchases additional 619.70 BTC* pic.twitter.com/5npflMJ3kW
— Metaplanet Inc. (@Metaplanet_JP) December 23, 2024
Metaplanet makes largest Bitcoin purchase to date
According to Bitbo data, it nearly tripled the value of the Metaplanet's previous record buy of 159.7 BTC on October 28 and was the largest single purchase it has made since it began buying Bitcoin six months ago.
Metaplanet now holds 1,762 BTC after buying additional 619.70 BTC
With the recent acquisition, Japanese investment firm Metaplanet's total Bitcoin holdings now stand at 1,762 BTC, valued at approximately $168 million, with an average purchase price of roughly $75,600 per BTC. The company has been dubbed "Asia's MicroStrategy" after the American Bitcoin-buying corporation.
Metaplanet becomes 12th largest Bitcoin stack
With the recent acquisition, it now has the 12th-largest Bitcoin stack among publicly traded companies, behind Semler Scientific, a manufacturer of medical technology.
Metaplanet Bitcoin yield now 310%
According to Metaplanet, its Bitcoin yield from October 1 to December 23 was 310%, which was significantly higher than the yield of 41.7% from July to September.
Metaplanet to expand its treasury strategy
The company said it wanted to expand its treasury strategy beyond simply purchasing Bitcoin, and on December 18, it anticipated that it would make its first operating profit since 2017.
Metaplanet announced in an investor disclosure that it would create a formal business line for "Bitcoin accumulation and management," which would include equity, convertible bonds, loans, and other financial instruments for buying and holding BTC. According to Bitcoin stacking firm Metaplanet, its treasury management strategy aims to go beyond merely amassing Bitcoin.
Metaplanet to buy more Bitcoin for its treasury
On November 28, Metaplanet announced that it would buy more Bitcoin for its treasury by raising more than $62 million (9.5 billion Japanese yen) through a stock acquisition program. The company announced that it would assign 29,000 units of its 12th stock acquisition rights to EVO Fund, a Cayman Islands investment management company, through a third-party allocation.
Since the price of Bitcoin has skyrocketed this year, a significant number of companies have adopted a Bitcoin strategy, which has often resulted in an increase in their stock prices and overall value.
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