Metaplanet, a Japanese investment firm, has made a significant move in the cryptocurrency market by purchasing 1,112 Bitcoin (BTC) worth approximately $117.2 million. This acquisition brings their total BTC holdings to 10,000, surpassing Coinbase Global's 9,267 BTC holdings.
*Key Details of the Purchase:*
- *Average Price*: The 1,112 BTC was acquired at an average price of $105,435 per coin.
- *Total Investment*: Metaplanet's total investment in Bitcoin now stands at around $947 million, with an average acquisition cost of $94,697 per BTC.
- *Bond Issuance*: To fund further Bitcoin purchases, Metaplanet has announced the issuance of zero-interest bonds worth $210 million ¹ ².
*Metaplanet's Bitcoin Ambitions:*
- *2025 Target*: The company aimed to acquire 10,000 BTC this year, which they've now achieved.
- *Future Plans*: Metaplanet targets holding 100,000 BTC by 2026 and 210,000 BTC by 2027, aligning with their aggressive growth strategy.
- *Equity Offering*: To support this goal, they've announced a $5.4 billion equity offering to purchase additional Bitcoin ² ¹.
*Market Impact:*
- *Stock Surge*: Metaplanet's stock price surged 17.23% to 1,769 yen after the announcement, reflecting investor enthusiasm around its Bitcoin-heavy strategy.
- *Short Interest*: Despite the surge, Metaplanet has become Japan's most shorted stock, indicating market skepticism about its aggressive Bitcoin accumulation strategy ¹.#MetaplanetBTCPurchase
