Metaplanet Expands Bitcoin Holdings to 18,113 BTC

Japanese bitcoin treasury firm Metaplanet has acquired an additional 518 BTC for approximately $61.4 million as part of its ongoing accumulation of bitcoin. On Tuesday, the Tokyo-listed company revealed that the latest purchase was made at an average price of about $118,519 per bitcoin. CEO Simon Gerovich stated that this latest acquisition has increased the company’s total holdings to 18,113 BTC, purchased at a cumulative cost of $1.85 billion, averaging $101,911 per bitcoin. This purchase announcement follows the company's earlier plan to raise up to 555 billion yen (roughly $3.7 billion) through issuing perpetual preferred shares to further enhance its bitcoin acquisition strategy. Currently, Metaplanet ranks sixth globally in bitcoin holdings, trailing Strategy, MARA, XXI, Bitcoin Standard Treasury Company, and Riot, according to data from Bitcointreasuries. In a related note, Strategy, led by Michael Saylor, recently announced the acquisition of an additional 155 BTC for approximately $18 million, bringing its total holdings to 628,946 BTC. Meanwhile, bitcoin has experienced a slight decline of 2.4% in the past 24 hours, trading at $118,883, although it's up 4% over the past week. Metaplanet's stock dipped by 1.6% as of noon on Tuesday in Japan. After falling 37% over the last month, the stock remains up 183% year to date. Disclaimer: The Block is an independent media outlet providing news and data. Foresight Ventures, a significant investor, reflects independent operations to ensure the reliability of its information.