Metaplanet buys $112 million worth of bitcoin; total holdings reach 20,000 BTC
Quick Take Metaplanet announced Monday that it purchased 1,009 BTC, worth around $112 million. Its total holdings reached 20,000 BTC, making the company the sixth largest public corporate holder of bitcoin.
Japan's leading bitcoin treasury firm Metaplanet announced its latest purchase of 1,009 BTC for 16.48 billion Japanese yen ($112 million). Its total holdings reached 20,000 BTC, the company noted.
According to its Monday disclosure , Metaplanet acquired the latest batch of bitcoin at an average price of around $111,068 per cryptocurrency.
With Monday's announcement, Metaplanet has become the sixth largest public bitcoin treasury company in the world, likely surpassing Riot Platforms, according to Bitcointreasuries.net data.
The event of Metaplanet's bitcoin holdings hitting 20,000 BTC came less than three months after the company announced having accumulated 10,000 BTC. Earlier this year, Metaplanet revised its year-end target to 30,000 BTC from its initial goal of 10,000 BTC.
Last week, Metaplanet said it plans to raise 130 billion yen (about $880 million) through an international share offering and spend most of the proceeds buying bitcoin over the next two months.
Metaplanet CEO Simon Gerovich previously said that it may borrow against its bitcoin holdings to buy cash-generating businesses in the future.
Metaplanet's stock fell 2.62% on Monday morning in Japan with markets still open, according to Yahoo Finance data . The Block's MTPLF price page shows that the company's U.S.-listed stock closed last Friday up 0.83% at $6.11.
Meanwhile, bitcoin is down 1.53% in the past 24 hours at $107,605, according to The Block's bitcoin price page .
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
US September CPI to be released tonight: Overall inflation may rise to 3.6%. Can slowing core inflation dispel the Federal Reserve's October rate hike expectations?
Although energy has driven overall inflation higher, cooling core inflation gives the Federal Reserve confidence to hold rates steady in October. Currently, there is an extreme divergence in pricing between the stock and foreign exchange markets: the stock market remains calm, while the forex market is turbulent beneath the surface. Tonight, one side is destined to face a rude awakening.
AI agents ignite a new battle in the payment industry! Bernstein: Visa (V.US), Mastercard (MA.US), etc. embrace new opportunities
Bernstein believes that as agent commercialization evolves, payments may become increasingly strategic, and the next major battle in the payment industry could soon begin.
Insurance funds become new sponsors for AI computing power: CoreWeave (CRWV.US) and other AI infrastructure financing collectively turn to insurance capital pools
CoreWeave plans to use insurance funds to finance its AI infrastructure, and co-founder McBee aims to secure an investment-grade rating for chip-backed debt. The company's financing this year has exceeded $35 billion.
Iron ore price drop and rising costs lead BHP (BHP.US) to lay off 300 workers at Western Australia mines
On October 14, BHP (BHP.US) announced the elimination of approximately 300 positions at its iron ore operations in Western Australia's Pilbara region, affecting the South Flank, Area C, Newman, and Jimblebar mines.
Crypto prices
More
