Metaplanet's Bitcoin reserves reach 10,000 BTC, surpassing Coinbase

Metaplanet's shares rose more than 20% after announcing its latest BTC purchase and a bond issuance worth 210 million dollars to buy even more.

The latest purchase of 1,112 BTC by the Japanese investment company Metaplanet has finally raised its total Bitcoin portfolio to 10,000 BTC, surpassing Coinbase as the seventh largest publicly traded company with a Bitcoin treasury.

On Monday, Metaplanet announced that it had purchased the batch of Bitcoins (BTC) for 16.88 billion Japanese yen (117 million dollars). The company now holds 10,000 Bitcoins, exceeding Coinbase's 9,267 Bitcoins, according to Bitbo data.

The average price of Metaplanet's 10,000 BTC is now 13.9 million Japanese yen, approximately 96,400 dollars per BTC.

This comes just two weeks after Metaplanet became the eighth company with the largest amount of Bitcoins.

Metaplanet issues bonds worth 210 million dollars to buy BTC

This occurred on the same day that Metaplanet announced that its board of directors had decided to issue 210 million dollars through interest-free bonds, and that it had increased that figure to buy more Bitcoins.

The company has drastically revised its strategy regarding Bitcoin in recent months and now intends to hold 210,000 BTC by the end of 2027. So far, Metaplanet has completed the purchase of 10,000 BTC and will need to buy an additional 200,000 BTC in the next 18 months.

Metaplanet's shares rise by more than 20%

The consecutive announcement has caused Metaplanet's share price to skyrocket throughout the day.

Metaplanet's shares (3350T) rose more than 22% on Monday on the Tokyo Stock Exchange, reaching a high of 1,860 Japanese yen.

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