Metaplanet Expands Bitcoin Holdings with major Purchase
Japanese investment firm Metaplanet has considerably boosted its Bitcoin portfolio. The company recently acquired an additional 2,205 BTC for about $237.9 million. This purchase brings its total holdings to 15,555 BTC.
This is Metaplanet’s largest single-day Bitcoin buy sence it started its accumulation strategy. The firm funded this acquisition through bond issuances and stock warrant exercises. Just before this, Metaplanet redeemed 6 billion yen worth of bonds, using proceeds from newly exercised warrants.
So far, Metaplanet has spent around $1.6 billion on Bitcoin. Its average cost per BTC is 14.5 million yen.The firm aims to hold 30,000 BTC by year-end, 100,000 BTC by 2026, and 210,000 BTC by 2027.
Metaplanet is now among the top five corporate Bitcoin holders,surpassing Tesla and Coinbase. with its latest purchases,it’s closing in on the fourth spot,held by Riot Platforms,which owns 19,225 BTC.
Metaplanet reported a 129.4% BTC yield for Q2, with an additional 15.1% in early July. It gained 5,237 BTC in Q2 and 2,017 BTC in early July. If it reaches its 210,000 BTC goal by 2027, it will control about 1% of Bitcoin’s total supply.