Metaplanet revealed the acquisition of 463 additional Bitcoin at an average price of approximately $115,895 per coin, with a total investment of approximately $53.7 million. Thanks to this acquisition, the company currently owns 17,595 BTC, equivalent to approximately $1.78 billion. The company's impressive annual performance of Bitcoin at 459.2% demonstrates the effectiveness of its treasury strategy.
The latest purchase of 463 BTC comes shortly after Metaplanet's previous acquisition of 780 BTC, valued at approximately $92.5 million, made just a week earlier. The company's constant buying activity positions it as one of the largest public holders of Bitcoin in Asia and a prominent rival to Strategy, led by Michael Saylor.
To put it into perspective, Strategy recently expanded its enormous Bitcoin treasury with the acquisition of 21,021 additional BTC for $2.46 billion. This purchase raised Strategy's total holdings to an industry-leading figure of 628,791 BTC, secured at an average cost of approximately $73,227 per Bitcoin.
It is noteworthy that Metaplanet is also attempting to raise the incredible sum of $3.7 billion through the issuance of perpetual preferred shares. The proposal has fueled investor speculation about the possibility of even greater Bitcoin acquisitions in the near future. It will be discussed at the upcoming Extraordinary General Meeting (EGM).