Japan’s leading Bitcoin treasury company, Metaplanet, has increased its total assets to 20,000 BTC with its latest purchase.
Metaplanet’s Bitcoin Holdings Reach 20,000 BTC
The company announced today that it purchased 1,009 BTC for approximately 16.48 billion yen ($112 million).
According to Metaplanet’s statement, the latest purchases were made at an average price of $111,068. This move places Metaplanet sixth among the largest Bitcoin treasury companies globally. According to Bitcointreasuries.net data, the company likely surpassed Riot Platforms with this move.
The company’s increase of its Bitcoin holdings to 20,000 BTC comes after surpassing its 10,000 BTC target, announced less than three months ago. Metaplanet quickly revised its initial target of 10,000 BTC at the beginning of the year, announcing its aim to accumulate 30,000 BTC by the end of the year.
Last week, the company announced plans to raise 130 billion yen (about $880 million) through an international share issuance and to direct the bulk of that funding to buying Bitcoin in the next two months.
CEO Simon Gerovich also stated that they may acquire cash-generating companies in the future by using Bitcoin assets as collateral.
Meanwhile, Metaplanet shares were down 2.62% on Japanese exchanges Monday morning. However, U.S.-listed shares were up 0.83% at $6.11 at the close on Friday.
Metaplanet’s fast-growing Bitcoin strategy is making the company stand out globally in the crypto market.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/japans-leading-bitcoin-treasury-company-metaplanet-reaches-critical-level-with-its-latest-btc-purchase-here-are-the-details/
