Metaplanet hits 10,000 BTC holdings, overtakes Coinbase Global with latest 1,112 Bitcoin purchase
Quick Take The Japanese investment firm said it purchased an additional 1,112 BTC, bringing its total holdings to 10,000 BTC. The company also announced the issuance of zero-interest bonds worth $210 million.
Shares of Metaplanet jumped more than 17% after the Japanese investment firm announced the acquisition of 1,112 BTC, raising its total holdings to 10,000 BTC — surpassing the amount held by Coinbase Global.
On Monday, Metaplanet CEO Simon Gerovich wrote on X that it acquired an additional 1,112 BTC for $117.2 million at an average price of $105,435 per Bitcoin. This boosted its total holdings to 10,000 BTC.
Data from Bitcointreasuries.net shows Coinbase Global holds 9,267 BTC, indicating that Metaplanet's latest purchase has pushed it ahead of the crypto exchange.
Also on Monday, the company disclosed that its board of directors approved the issuance of its 18th series of ordinary bonds worth $210 million to EVO Fund with their maturity date set for Dec. 12, 2025. "The funds raised are scheduled to be allocated toward the purchase of Bitcoin," the company said.
Upon the announcements, Metaplanet's stock surged 17.23% to 1,769 yen as of 11:30 a.m. in Japan, according to Yahoo Finance data . Its stock price has risen over 408% since the beginning of this year.
Earlier this month, the company, which began its Bitcoin acquisition strategy in April 2024, announced a revised target to hold over 210,000 BTC by the end of 2027, referencing a goal of holding 1% of the total Bitcoin supply.
To support this goal, Metaplanet unveiled plans on June 6 for a $5.4 billion equity offering to purchase additional Bitcoin, intending to issue 555 million shares over the next two years. On June 2, the company said it purchased an additional 1,088 BTC , bringing its total holdings to 8,888 BTC.
Strategy, led by Michael Saylor, continues to top the global list with total holdings of 582,000 BTC following its acquisition of 1,045 BTC last week.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Deutsche Bank: The bursting of the AI bubble may become the biggest systemic risk in the market next year; U.S. Treasury bonds are expected to attract safe-haven funds.
George Saravelos, Global Head of FX Research at Deutsche Bank, stated that since the beginning of this year, global investors' pessimism toward the bond market has become excessive. He believes the market may be underestimating the likelihood of large-scale capital flows into the bond market if significant risks emerge in the artificial intelligence industry.
Risks Hidden Behind S&P 500 Record Highs: Most Constituent Stocks Underperform, Rising Oil Prices and U.S. Treasury Yields Intensify Market Divergence
Persistently high oil prices and borrowing costs are impacting the bond, credit, and small-cap stock markets, while the strong performance of large technology stocks is masking the increasingly evident divergence within the U.S. stock market.
Elon Musk continues one-sided Ambani beef, mocks him in viral X post
Nobel laureate warns: French debt crisis may be "too big to save," eurozone faces "explosive" crisis
France's debt has reached €3.6 trillion, accounting for 119% of its GDP—the highest level since the creation of the euro. Paul Krugman, the 2008 Nobel Prize winner in Economics, warned that France is on a path of "fiscal unsustainability" and may have gone from "too big to fail" to the dangerous position of being "too big to be rescued." Its eurozone membership could trigger an "explosive debt crisis" and deliver a destructive blow to European integration.
Crypto prices
More
