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coinpedia 2024-12-23 04:01:42

Metaplanet Expands Bitcoin Holdings to 1,761.98 BTC Following $60.70 Million Investment

The post Metaplanet Expands Bitcoin Holdings to 1,761.98 BTC Following $60.70 Million Investment appeared first on Coinpedia Fintech News Metaplanet, a Japanese investment firm, has made another major addition to its Bitcoin holdings, purchasing 619.70 BTC for 9.5 billion yen (Approximately $60.70 Million) . Following this acquisition, the company’s total Bitcoin holdings have now reached 1,761.98 BTC. The average purchase price for the latest transaction was 15,330,073 yen per Bitcoin. With this move, Metaplanet’s total investment in Bitcoin now amounts to 20.872 billion yen, with an average purchase price of 11,846,002 yen per Bitcoin. This move further strengthens Metaplanet’s position as a major player in the cryptocurrency space. Metaplanet said that the Company has strategically grown its total Bitcoin holdings through capital market activities and purchases funded by operating revenues. Metaplanet took to its official X handle and shared a statement regarding the recent purchase. They also addressed recent speculations regarding its Bitcoin Treasury business. The company clarified that it has not issued convertible bonds in connection with its Bitcoin holdings. However, Metaplanet added that, as outlined in its “Notice Regarding the Launch of the Bitcoin Treasury Business” dated December 18, 2024, the firm may consider using bonds convertible into common stock as part of its fundraising strategy in the future. メタプラネットが追加で619.70ビットコインを購入。 pic.twitter.com/xgatgn6YzJ — Metaplanet Inc. (@Metaplanet_JP) December 23, 2024 Additionally, Metaplanet has announced the adoption of Bitcoin Yield (BTC Yield) as a Key Performance Indicator (KPI) to assess its business performance. The company believes that using BTC Yield as a KPI will provide investors with greater transparency regarding its decision to finance Bitcoin purchases through issuing additional common stock or convertible instruments. “We intend to measure the performance of our strategy to acquire Bitcoin in a manner that we believe will benefit our shareholders,” the statement read. Metaplanet has been compared to MicroStrategy due to its frequent Bitcoin purchases. The firm has been increasing its Bitcoin reserves since May 2024 as a strategy to mitigate economic challenges in Japan, particularly those affecting the yen.

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