Metaplanet adds 780 BTC for $92.5 million, now holds bitcoin worth $2 billion
Metaplanet has purchased an additional 780 BTC for approximately $92.5 million, indicating the company remains bullish on the outlook for bitcoin.
With its total holdings of 17,132 BTC, Metaplanet currently ranks seventh globally among public corporate bitcoin holders, according to Bitcointreasuries data.
Metaplanet, which began adopting its bitcoin accumulation strategy in April 2024, announced a revised target last month to hold over 210,000 BTC by the end of 2027 to secure 1% of bitcoin supply.
The company's bitcoin-focused business saw strong revenue growth, generating nearly 1.1 billion yen ($7.6 million) in revenue during the second quarter of this year, a 42.4% increase year-over-year, according to its quarterly disclosure released earlier this month.
Metaplanet's stock jumped 5.6% to 1,247 yen ($8.4) as of midday Monday in Japan, with the market still open. Despite a 16.3% decline over the past month, the stock remains up 258.3% year-to-date, according to Yahoo Finance data.
Bitcoin edged up 0.9% in the past 24 hours to trade at $119,267 at the time of writing, according to The Block's price page.
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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