Metaplanet BTC Holdings Soar: Tesla Falls Behind!
With its most recent acquisition on June 30, the Japanese behemoth Metaplanet has risen into the top five Bitcoin holders, bringing its total holdings to 13350 BTC. A further 1,005 BTC were bought by the company earlier today at an average price of $107,601.
Giants like Tesla, CleanSpark, and Galaxy Digital have been surpassed by the Japanese company in the past week. Following the event, the stock price experienced a healthy decline below 1,500 JPY last week, but today it has risen 10% to 1633 JPY.
Metaplanet CEO: “We’ve Added 10,000 BTC in Just 90 Days”
Additionally, Metaplanet has issued its 19th series of ordinary bonds, which are worth almost $208 million. EVO FUND purchased all of the unsecured and zero-coupon bonds. With the remaining money going toward more Bitcoin purchases, the corporation intends to use the proceeds to buy back JPY 1.75 billion in previously issued bonds.
With a recent announcement of a $5 billion capital allocation for Bitcoin purchases through its US subsidiary, the Japanese company has been on a big buying binge. A staggering 10,000 BTC has been bought by the corporation in the last three months.
Just 3 months ago, we announced live at our shareholder meeting that we hit 3,350 BTC — and now we’ve added 10,000 more to reach 13,350 BTC.
CEO Simon Gerovich
Metaplanet Aims for 30,000 BTC by Year-End
The corporation increased its goal to acquire 30,000 Bitcoin before the end of the year just two weeks ago. Additionally, as part of its “555 Million Plan,” the corporation has already set the goal to acquire 210,000 Bitcoins, or 1% of the total supply, by the end of 2027.
After today’s Bitcoin transactions, Metaplanet’s stock price has increased by 10%, reversing the losses of the previous week. Bears put selling pressure on the stock when it was rejected at 1,900 JPY, driving it below 1,500 JPY. Nonetheless, with about one million trading volumes, the MTPLF stock, which is traded on the US market, is still booming on Wall Street. To sum up, it appears that the stock downturn is over as the corporation keeps buying Bitcoin.
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