#MetaplanetBTCPurchase

# **Metaplanet Ownership Surpasses 10,000 Bitcoin, Stock Surges 19%**

Metaplanet, a Japanese investment company, officially announced the purchase of an additional 1,112 Bitcoin (BTC) valued at approximately US$117.2 million. With this transaction, the total BTC ownership of the company reaches 10,000 coins, surpassing the reserves of exchange Coinbase Global which is recorded at only 9,267 BTC.

Metaplanet's CEO Simon Gerovich stated via the X platform that the latest purchase was made at an average price of around US$105,435 per BTC.

“We use these funds to continue adding to our Bitcoin reserves as part of the company's long-term strategy,” wrote Gerovich in his post.

Along with the purchase announcement, Metaplanet also approved the issuance of a zero-coupon bond worth US$210 million to EVO Fund. This 18th series bond is scheduled to mature on December 12, 2025, and all proceeds from the issuance will be allocated to increase the company's Bitcoin reserves.

The surge in this news caused Metaplanet's stock price to sharply increase by 19% to 1,807 Japanese yen per share in morning trading on Monday (16/06) local time.

Since the beginning of the year, the company's stock has soared over 408%, in line with its ambition to reach a target of 210,000 BTC, equivalent to 1% of the total global Bitcoin supply.

*Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).*

source of information: crypto academy