Japanese investment firm Metaplanet has significantly expanded its Bitcoin holdings, acquiring an additional 1,005 BTC. This latest purchase brings Metaplanet’s total Bitcoin treasury to 13,350 BTC, surpassing Tesla’s corporate holdings.
The acquisition was executed at an average price of $107,923 per BTC, adjusting the firm’s overall cost basis to approximately $96,121. Metaplanet financed this strategic accumulation through the issuance of a $21 million unsecured bond.
The bond offering, designated Series 19, was fully subscribed by Evo Fund. Net proceeds are allocated towards the firm’s ongoing Bitcoin acquisition strategy.
Following the announcement of the purchase and bond issuance, Metaplanet’s stock (MTPLF) experienced a significant surge, closing nearly 10% higher at 1,640 JPY ($11.39).
Analysts project that if Metaplanet continues its acquisition pace, its Bitcoin holdings could potentially exceed 63,000 BTC by the end of the year. Such a substantial accumulation is anticipated to significantly influence broader cryptocurrency market liquidity.