Japanese investment firm Metaplanet has announced a significant expansion of its Bitcoin treasury, acquiring an additional 463 BTC. The purchase, valued at approximately $53.7 million, was executed at an average price of $115,895 per coin.
This latest acquisition increases Metaplanet’s total Bitcoin holding to 17,595 BTC. Based on current valuations, the portfolio is worth approximately $1.78 billion.
In a strategic move to further broaden its cryptocurrency asset base, Metaplanet has unveiled plans to raise $3.7 billion. The capital will be generated through the issuance of perpetual preferred shares, earmarked specifically for expanding the company’s crypto treasury holdings.
The acquisition aligns with Metaplanet’s established strategy of consistent Bitcoin accumulation, driven by favorable long-term market conditions and the asset’s perceived value proposition.
Despite Bitcoin posting gains recently, Metaplanet’s own stock price experienced a decline of 6%. Analysts suggest this dip may reflect broader market factors unrelated to the company’s specific Bitcoin accumulation strategy.