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Tokyo’s Metaplanet Buys Additional 103 Bitcoins for $11.7 Million
The total number of coins now on Metaplanet’s balance sheet has reached 18,991 BTC. They are currently valued at $1.95 billion at an average price of $102,712 per bitcoin. The latest purchase followed shortly after the company’s acquisition last week, when it added 775 BTC worth $93 million to its holdings.
Metaplanet President Simon Gerovich stated that since the beginning of the year the company’s bitcoin return has reached 479.5%, while from early July to the end of August the growth amounted to 29.1%. Metaplanet is considered the largest publicly listed corporate bitcoin holder in Asia.
Metaplanet’s strategy is paying off: since the beginning of the year, the company’s shares have risen by 147.9%. However, they dropped 26.9% over the past month. The company is also expanding in traditional markets: it is included in the FTSE Japan index, which reflects the performance of Japanese companies with large and mid-cap stocks.
In June, Metaplanet unveiled its three-year plan to increase its bitcoin reserves, according to which the company intends to accumulate 30,000 BTC by the end of 2025. In 2026, the number of bitcoins held by the company should rise to 100,000 BTC, and by 2027 — to 210,000 coins. This would account for roughly 1% of bitcoin’s total supply.
Earlier this month, Metaplanet announced its intention to raise $3.8 billion over the next two years to deploy this capital for larger cryptocurrency acquisitions in the long term.
See also: "Philippines Aims to Create a $1.1 Billion Bitcoin Fund"
