Tuesday, January, 21, 2025

Metaplanet Buys $61.4M in Bitcoin, Boosting Holdings to Over 18,000 BTC

Metaplanet adds 518 BTC worth $61.4M, raising total holdings to over 18,000 BTC
Metaplanet
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Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.
  • Metaplanet expands bitcoin reserves with $61.4 million latest purchase.
  • Japanese firm now holds over 18,000 BTC in treasury.
  • Capital raise fuels Metaplanet’s aggressive bitcoin acquisition strategy.

Metaplanet has expanded its bitcoin reserves with a $61.4 million acquisition of 518 BTC. According to the Tokyo-listed firm, the purchase was made at an average price of $118,519 per bitcoin, reinforcing its position among top corporate holders.

Metaplanet has increased its bitcoin reserve after acquiring 518 BTC worth of $61.4 million. The Tokyo-listed company said the average price of acquisition was 118,519 dollars per bitcoin, enhancing its position as one of the biggest corporate holders.

After the deal, the total number of bitcoin that Metaplanet owns is 18,113 BTC. The firm affirmed that it has already invested about $1.85 billion in its treasury at an average of $101,911 per coin. Chief Executive Officer Simon Gerovich underlined the fact that the company remains focused on developing its cryptocurrency portfolio.

Metaplanet announced earlier this month that it would issue up to 555 billion yen, or about $3.7 billion. The capital will be raised in the form of perpetual preferred share with the proceeds being used to fast track its bitcoin acquisition program despite the recent market fluctuations.

Also Read: Warren Calls for Stronger Crypto Oversight, Warns Against Industry Influence on Rules

Metaplanet’s Position Among Global Bitcoin Leaders

Bitcointreasuries data places Metaplanet as number six in the world in terms of corporate Bitcoin holdings. The companies before it are Strategy, MARA, XXI, Bitcoin Standard Treasury Company, and Riot. Strategy under the management of Michael Saylor has recently purchased 155 BTC to the tune of approximately 18 million dollars, and the amount now stands at 628,946 BTC.

The price of Bitcoin went down by 2.4 percent over the last 24 hours and is currently trading at the price of $118,883. Even though it is down, it has increased by 4 percent in the last week as per The Block market data indicating the resilience of the underlying market.

Metaplanet share had declined 1.6 percent at noon Tuesday in Japan according to Yahoo Finance data. The shares have declined 37 percent in the last month, however, are still up 183 percent year-to-date, indicating a good overall performance.

The acquisition of the $61.4 million emphasizes the aggressive strategy of Metaplanet to build on its bitcoin holdings. As the company has a significant amount of new capital under development, it seems that it is willing to proceed with its aggressive accumulation strategy.

Also Read: El Salvador Approves Law Letting Major Banks Offer Bitcoin and Digital Asset Services

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