- Metaplanet acquires 5,268 BTC, becoming fourth-largest bitcoin treasury globally.
- Latest acquisition boosts Metaplanet’s bitcoin holdings to 30,823 BTC.
- Metaplanet reports strong growth as bitcoin strategy strengthens financial foundation.
Metaplanet, a Japanese bitcoin treasury firm, has expanded its bitcoin holdings with the acquisition of 5,268 BTC for 91.6 billion Japanese yen ($623 million). This new acquisition makes Metroplanet the fourth-largest publicly traded bitcoin treasury company in the world, with a total bitcoin collection of 30,823 BTC. The company has become the second, behind Strategy, MARA Holdings, and XXI, in overall bitcoin holdings.
This company purchased 5,268 BTC at a cost of 17.4 million Yen per coin, or approximately $118,328 per bitcoin. This acquisition follows a previous purchase in September, when Metaplanet bought bitcoin for $632 million, marking the company’s first significant acquisition of the cryptocurrency.
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Strong Growth and Financial Moves Support Strategy
Alongside its significant bitcoin purchases, Metaplanet reported strong financial growth for Q3. The company reported quarterly revenue of 2.438 billion yen ($16.5 million), representing a 115.7% increase compared to Q2. As emphasized by CEO Simon Gerovich, the results demonstrate the company’s operational scalability and consolidate its financial foundation. The findings also justify Metaplanet’s issuance of preferred shares, which will assist in its Bitcoin Treasury strategy.
Moreover, Metaplanet announced that it will issue 385 million shares of new capital, which will be used to purchase additional bitcoins. The company, in a related move, opened a U.S. subsidiary, Metaplanet Income Corp., which aims to advance its bitcoin income-generating business, particularly in derivatives and associated financial services.
Stock Performance Amid Strategic Growth
Despite its strategic growth, Metaplanet’s stock experienced a 10.26% decline on Monday, according to Yahoo Finance data. Over the last month, its stock has fallen 38%, but the company has seen a 48.3% increase year-to-date. In contrast, its U.S.-traded shares, under the ticker MTPLF, closed up 8.86% at $3.96 on Tuesday, according to The Block.
These mixed market reactions reflect the volatility in cryptocurrency investments. However, Metaplanet’s increasing bitcoin holdings and strategic moves underscore its long-term commitment to becoming a major player in the digital asset space.
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