Key takeaways
- Metaplanet’s recent purchase of 106 BTC brings its total holdings to over 855 BTC.
- The company’s shares rose 15% following the announcement of the Bitcoin acquisition.
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Shares of Metaplanet (3350.T) rose more than 15% on October 15 (Asian time) after the company announced that it added more than 106 Bitcoin to its reserves. According data From Yahoo Finance, the share price reached 1,105 JPY, a substantial jump from the previous close of 955 JPY.
The latest acquisition brings Metaplanet’s total Bitcoin holdings to over 855 BTC, valued at around $56 million at current prices. The company’s average purchase price for Bitcoin stands at approximately $62,200, which is below the current market price of $65,700.
The company made four Bitcoin purchases this month. The third acquisition was made on October 10, after the previous ones on October 1 and 7.
Metaplanet CEO Simon Gerovich said the goal was to accumulate at least 1,000 BTC. With the new acquisition, the company is now just 145 BTC away from its goal. It appears that Metaplanet has no plans to sell its stakes anytime soon.
The company’s accumulation positions it as the 17th public Bitcoin holding company, according to data of Bitcoin Treasury bonds. If it continues at this pace, Metaplanet is poised to overtake Hong Kong-based Meitu, which holds 940 BTC, becoming the largest Bitcoin holder among Asian public companies.
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