#MetaplanetBTCPurchase Metaplanet, a Japanese investment firm, has made significant strides in Bitcoin accumulation, surpassing Coinbase as the ninth-largest public Bitcoin holder with 10,000 BTC. Here's a breakdown of their journey:
- *Recent Purchase*: Metaplanet acquired 1,112 BTC for approximately $117.2 million, bringing its total holdings to 10,000 BTC. This purchase was made at an average price of $105,435 per coin.
- *Total Investment*: The company's total investment in Bitcoin now stands at around $947 million, with an average cost basis of $94,698 per BTC.
- *Bond Issuance*: To fund further Bitcoin purchases, Metaplanet issued $210 million in zero-interest ordinary bonds. The proceeds from this bond sale will be allocated toward buying more Bitcoin.
- *Stock Performance*: Metaplanet's stock has surged over 408% since the start of the year, reflecting investor enthusiasm around its Bitcoin-heavy strategy. The stock jumped 17% to 1,769 yen on the Tokyo stock exchange after the announcement.
- *Future Targets*: Metaplanet aims to accumulate 210,000 BTC by the end of 2027, which would be nearly 1% of the total Bitcoin supply. To achieve this goal, the company will need to acquire an additional 200,000 BTC over the next 18 months.
*Key Statistics:*
- *Current Holdings*: 10,000 BTC
- *Total Investment*: Approximately $947 million
- *Average Cost Basis*: $94,698 per BTC
- *Target Holdings by 2027*: 210,000 BTC
