Hold onto your hats, folks, because Metaplanet is making waves in the crypto world with its latest splash into the Bitcoin pool! The company has just snagged an additional 124.117 Bitcoin, a move that brings their grand total to a whopping 1,142 BTC. That’s like having a treasure chest worth around $73 million!
The purchase came with a price tag of 1.75 billion yen, making each Bitcoin cost Metaplanet an average of 14,099,600 yen. That’s a cool calculation if you ask me! With this latest buy, their average cost per Bitcoin now stands at around $64,800. Not too shabby, right?
This move sent Metaplanet’s stock soaring by more than 15%, pushing prices up to around 2,295 yen. Talk about a rocket launch! Their Bitcoin yield has also skyrocketed to an impressive 186.9% this quarter, a significant jump from the previous 41.7%.
Metaplanet isn’t just buying Bitcoin on a whim. They’ve been on a mission since May 2024, using Bitcoin as a hedge against economic uncertainty. They’re following in the footsteps of the crypto giant, MicroStrategy, who just bought a staggering 51,780 BTC for over $4.5 billion. Talk about setting trends!
In their journey, Metaplanet has secured loans and conducted several rounds of stock acquisitions to fuel their Bitcoin dreams. They recently closed a round raising 11 billion yen and announced plans to issue bonds worth 1.75 billion yen, all dedicated to acquiring more of the digital gold. They’re not just dipping a toe in; they’re diving headfirst into the Bitcoin ocean!
Since they first dipped their toes in this summer with a modest 23.35 BTC purchase, they've been on a buying spree. From 57.273 BTC in July to a whopping 156.7 BTC in October, Metaplanet is clearly on a mission to be a Bitcoin powerhouse.
So, keep your eyes peeled on Metaplanet as they continue this thrilling adventure into the world of Bitcoin. Who knows what their next move will be? Stay tuned!
