Metaplanet Ownership Exceeds 10,000 Bitcoin, Shares Surge 19%
Metaplanet, a Japanese investment company, officially announced the purchase of an additional 1,112 Bitcoin (BTC) valued at approximately US$117.2 million. With this transaction, the company's total BTC ownership reaches 10,000 coins, surpassing the reserves of Coinbase Global, which is recorded at only 9,267 BTC.
Metaplanet CEO Simon Gerovich stated via the X platform that the latest purchase was made at an average price of around US$105,435 per BTC.
"We are using these funds to continue increasing our Bitcoin reserves as part of the company's long-term strategy," Gerovich wrote in his post.
Along with the purchase announcement, Metaplanet also approved the issuance of a zero-coupon bond worth US$210 million to EVO Fund. This 18th series bond is scheduled to mature on December 12, 2025, and all proceeds from the issuance will be allocated to increasing the company's Bitcoin reserves.
The surge of this news caused Metaplanet's stock price to sharply increase by 19% to 1,807 Japanese yen per share during morning trading on Monday (16/06) local time.
Since the beginning of the year, the company's shares have soared more than 408%, as it aims to achieve a target of 210,000 BTC, equivalent to 1% of the total global Bitcoin supply.
*Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).*