Japanese investment firm Metaplanet has completed a significant acquisition of Bitcoin (BTC), purchasing an additional 1,005 BTC for $108 million.
This latest purchase brings Metaplanet’s total Bitcoin holdings to 13,350 BTC, valued at approximately $1.45 billion. This positions Metaplanet as the fifth-largest corporate holder of Bitcoin globally.
The company achieved an average purchase price of $97,832 per Bitcoin, underscoring its disciplined accumulation strategy amid ongoing market fluctuations.
To finance its Bitcoin strategy and optimize its capital structure, Metaplanet successfully issued 30 billion yen ($208 million) in zero-interest bonds. This instrument provides the firm with interest-free capital to pursue its goals.
Metaplanet has outlined ambitious expansion plans, aiming to increase its Bitcoin reserves to 100,000 BTC by 2026. The firm’s long-term target extends to holding 210,000 BTC by the end of 2027.
Following the announcement of these developments, Metaplanet experienced a significant positive market reaction. Its stock price surged 9% during trading in Tokyo, contributing to a substantial increase of 350% since the beginning of the year.