Japanese Investment Company Metaplanet Announces Bitcoin Acquisition
On Wednesday, Japanese investment company Metaplanet announced that it has spent approximately 7.672 billion yen (about 53.4 million USD) to acquire an additional 555 bitcoins as part of its “Bitcoin Financial Operations” strategy, with an average purchase price of 13,824,064 yen (approximately 96,134 USD).
As of May 7, Metaplanet holds a total of 5,555 bitcoins (valued at approximately 536 million USD based on the current bitcoin price of about 96,500 USD). According to Metaplanet CEO Simon Gerovich, the total cost of acquiring these bitcoins is approximately 481.5 million USD, with an average purchase price of about 86,672 USD.
At the same time, Metaplanet announced that its board has passed a resolution to issue its 13th series of zero-interest ordinary bonds, with a total amount of 25 million USD. The funds raised will be used for purchasing bitcoins.
Originally, Metaplanet was a company focused on developing Web3 and metaverse technologies while also operating in the hotel business. It later transformed into a bitcoin financial enterprise in April 2024, adopting bitcoin as its core financial reserve asset to hedge against Japan’s debt burden and the resulting fluctuations of the yen. In January this year, Gerovich indicated that the company aims to expand its bitcoin holdings to 10,000 BTC by 2025.
Related Reports: “Metaplanet Establishes Subsidiary in the U.S. and Will Issue 3.6 Billion Yen Bonds to Increase Bitcoin Holdings”, “Metaplanet Appoints Eric Trump, Son of Donald Trump, as Member of Strategic Advisory Committee, Stock Price Rises Over 17%”