#MetaplanetBTCPurchase second to the report in COINTELEGRAPH that informs:
Metaplanet's participation in Bitcoin reaches 10,000 BTC, surpassing Coinbase
Metaplanet's shares rose more than 20% after announcing its latest Bitcoin purchase and a bond issuance of US$ 210 million to buy even more.
The latest purchase of 1,112 Bitcoins by the Japanese investment company Metaplanet has finally raised its total Bitcoin reserves to 10,000 BTC, surpassing Coinbase as the seventh largest publicly traded company with a Bitcoin treasury.
On Monday, Metaplanet announced that it had acquired the batch of Bitcoin
BTC
R$ 590.616
for 16.88 billion Japanese yen (US$ 117 million). The company now holds 10,000 Bitcoins, surpassing Coinbase's 9,267 Bitcoins, according to Bitbo data.
The average price of Metaplanet's 10,000 BTC is now at 13.9 million Japanese yen, approximately US$ 96.400 per Bitcoin.
This comes just two weeks after Metaplanet became the eighth largest corporate holder of Bitcoin.
The announcement came on the same day that Metaplanet disclosed that its board of directors approved the issuance of US$ 210 million in zero-coupon bonds, aiming to raise funds to purchase more Bitcoin.
The company has drastically revised its Bitcoin strategy 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 acquire another 200,000 BTC in the next 18 months.
