Metaplanet maintains high Bitcoin appetite
Metaplanet purchased an extra 156 bitcoins after its CEO stated that the company was looking into listing outside of Japan, possibly in the US. The purchase price of the 156 bitcoins (BTC) was $13.4 million, or $85,890 per bitcoin.
The company said in a statement the same day that this new acquisition increases Metaplanet’s bitcoin holdings to 2,391 BTC.
The most recent acquisition comes after the business announced it would issue $13.6 million in zero-interest bonds to finance its Bitcoin ambitions.
Metaplanet issued 40 common bonds on February 27th, each worth 50 million yen, for 2 billion yen. These bonds will be fully redeemed and have no interest attached on August 26, 2025. The Evo Fund, Metaplanet’s Bitcoin acquisition fund, will receive the proceeds from this project.
Metaplanet invested $196.3 million in the cryptocurrency under Simon Gerovich’s direction with an average purchase price of $82,100 per bitcoin. The value of its Bitcoin portfolio has increased by 13% since the start of its investment strategy in April.
Mark X, the CEO of Metaplanet, announced the news on X (formerly Twitter) emphasizing the company’s ongoing faith in bitcoin as a key asset.
Metaplanet further solidified its bullish position by announcing the purchase of 135 BTC.
The company has lofty objectives with a target to hold 10,000 Bitcoin by the end of 2025 and 21,000 by the end of 2026, demonstrating its dedication to the cryptocurrency and increased institutional adoption of the pioneer crypto asset.
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