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Metaplanet buys $12.5 million worth of BTC, issues bonds to purchase more bitcoin
The latest purchase boosted the firm's total holdings to 3,200 BTC, acquired for about $266.2 million, according to Metaplanet CEO Simon Gerovich. Based on current market prices, the firm's 3,200 BTC is worth about $265.9 million.
Also on Tuesday, Metaplanet raised 2 billion yen, or about $13.3 million, through bond issuance to buy more bitcoin.
Metaplanet has embarked on a bitcoin buying spree since adopting a bitcoin accumulation strategy in April 2024. It aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
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