Japanese investment firm Meta Planet has made a bold move in the cryptocurrency market by acquiring 1,112 Bitcoin valued at $117.2 million. This purchase brings the company’s total Bitcoin holdings to 10,000 BTC.
The aggressive accumulation highlights Meta Planet’s growing conviction in Bitcoin as a long-term store of value. Following the announcement, the firm’s stock price jumped more than 20%, buoyed further by news of a $210 million bond issuance aimed at acquiring additional Bitcoin.
Meta Planet has set an ambitious goal of amassing 210,000 BTC by the end of 2027, aiming to become one of the largest corporate holders of Bitcoin. The company’s average purchase price for its current holdings is approximately $96,400 per Bitcoin.