Metaplanet Boosts Bitcoin Holdings to 7,800 BTC
Japanese investment firm Metaplanet has considerably increased its Bitcoin holdings. The company recently bought 1,004 BTC, bringing its total reserve to 7,800 BTC.
On May 19, Metaplanet disclosed this acquisition in a regulatory filing.The new purchase, worth about $104 million, was made at an average price of $97,182 per BTC. This boosts the company’s total Bitcoin investment to roughly $712.5 million.
Bitcoin’s market price recently crossed $100,000, fueled by positive U.S.-China tariff talks. As an inevitable result, Metaplanet now holds an unrealized profit of $77.4 million.
The news positively impacted Metaplanet’s stock price. It surged by 12% on the Tokyo Stock Exchange, reaching levels last seen in February. The company’s market capitalization also rose to ¥365.12 billion ($2.34 billion).
Metaplanet is now among the top corporate Bitcoin holders. It trails behind Block Inc (8,584 BTC) adn Coinbase (9,267 BTC). According to Bitcoin Treasuries,Metaplanet aims to hold 10,000 BTC by 2025. With the latest purchase, it has achieved 78% of this goal.
