Highlights
- Metaplanet’s latest acquisition of 106 BTC raises its total reserves to over 855 BTC.
- The announcement of the Bitcoin buy led to a 15% increase in the company’s stock price.
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On October 15 (Asian time), Metaplanet (3350.T) saw its stock rise over 15% after revealing it had acquired an additional 106 Bitcoin for its reserves. According to Yahoo Finance, the stock closed at 1,105 JPY, significantly up from the previous closing of 955 JPY.
This latest purchase increases Metaplanet’s total Bitcoin holdings to over 855 BTC, equating to approximately $56 million based on current market valuations. The company’s average Bitcoin acquisition cost is roughly $62,200, which is lower than the current market price of $65,700.
Metaplanet has completed four Bitcoin acquisitions this October, with the most recent transaction being on October 10, following earlier purchases on October 1 and 7.
CEO Simon Gerovich stated that their objective is to reach at least 1,000 BTC. With this recent acquisition, Metaplanet is now just 145 BTC away from achieving that goal, indicating they have no imminent plans to liquidate their Bitcoin reserves.
This strategy positions Metaplanet as the 17th largest publicly-traded company holder of Bitcoin, as noted by Bitcoin Treasuries. If the current pace continues, it is likely that Metaplanet will soon surpass Hong Kong’s Meitu, which currently holds 940 BTC, making it the largest Bitcoin holder among publicly traded companies in Asia.
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