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Metaplanet Buys 135 More Bitcoin to Become a Top-15 Publicly Traded BTC Holder
Metaplanet now holds 2,235 BTC and its share price is less than 20% off its all-time high.
What to know:
Metaplanet (3350) said it bought another 135 bitcoin (BTC) for 1.94 billion yen ($13 million) taking its total holdings to 2,235 BTC and making it one of the top 15 publicly traded companies with the largest bitcoin reserves.
The Tokyo-based company spent an average of 14,360,449 yen on the most recent purchase, and the average purchase price across all holdings is 12,441,856 yen. That converts to $81,195 per BTC, which is currently trading around $89,000.
So far this year, Metaplanet has achieved a BTC yield of 23.2%. Despite this, its stock price declined by 3% to 6,010 yen, a drop of less than 20% from its all-time high.
"Metaplanet has raised $47 million in equity at market in the first four trading days of its “21m Plan,” with 5.54% of the plan completed to date, according to Dylan Le Clair, the company's director of bitcoin strategy.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system. In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
