Metaplanet, a publicly traded investment company on the Tokyo Stock Exchange, announced the purchase of 1,004 Bitcoins worth approximately 104 million dollars, thus raising its total holdings to 7,800 Bitcoins. This move comes amid a bullish wave pushing Bitcoin towards new record levels.
The company, which adopts a treasury strategy based on digital assets, began accumulating Bitcoin since April 2024, targeting to reach 10,000 Bitcoins by the end of 2025. These purchases are funded through several bond issuances, in a move that demonstrates the company's commitment to transforming its investment model.
This expansion has reflected on the stock's performance, as Metaplanet's shares jumped by 12.2% in the Japanese market, reflecting investor confidence in the company's direction towards digital assets.