Metaplanet buys additional 797 BTC for nearly $94 million as bitcoin extends all-time high rally
Quick Take The Japanese investment firm said Monday that it purchased an additional 797 BTC, bringing its total holdings to 16,352 BTC. Bitcoin has repeatedly hit new all-time highs over the past week and is currently trading at $120,754 at the time of writing.
Japanese investment firm Metaplanet has acquired an additional 797 BTC for approximately $93.6 million, continuing its aggressive accumulation of bitcoin.
Metaplanet CEO Simon Gerovich wrote on X on Monday that the company purchased 797 BTC at an average price of around $117,451 per bitcoin. The latest acquisition brought its total holdings to 16,352 BTC, acquired for $1.64 billion.
"Another week, another tranche," said Gerovich.
Metaplanet remains the world's fifth-largest publicly traded corporate holder of bitcoin, behind Strategy, MARA, Twenty One , and Riot Platforms, according to data . Michael Saylor's Strategy remains at the top of the rankings with 597,325 BTC .
The Japan-listed company pivoted from operating a hotel management business to a bitcoin treasury firm last year. Last month, it announced a revised target to hold over 210,000 BTC by the end of 2027.
In an interview with the Financial Times released last week, Metaplanet stated its plans to borrow against its bitcoin holdings to buy cash-generating businesses. Gerovich said that the company was in a "bitcoin gold rush" that presents opportunities to branch out into sectors such as digital financial services, while noting that the firm's plans to buy other businesses are still in their very preliminary stages.
Metaplanet's bitcoin-centric operations saw robust growth in the second quarter, with revenue reaching nearly 1.1 billion yen ($7.6 million), marking a 42.4% year-over-year increase, according to its quarterly report released earlier this month.
Bitcoin broke above $120,000 late Sunday night to set a new all-time high, and is currently trading up 2.5% over the past 24 hours at $120,754.
Meanwhile, Metaplanet's stock rose 1% to 1,580 yen ($10.7) as of noon in Japan on Monday, with the market still open, data shows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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