3 months ago
Metaplanet (3350) said it bought a further 269.43 bitcoin (BTC), strengthening its presumption arsenic a large firm holder of the cryptocurrency. The latest purchase, valued astatine 4 cardinal yen ($26.4 million), takes the Tokyo-based company's holdings to 2,031.41 BTC.
The acquisition is portion of the company’s ongoing Bitcoin Treasury Operations; it started buying the largest cryptocurrency successful April 2024 and has present made an aggregate concern of 24.9 cardinal yen astatine an mean terms of 12.2 cardinal yen, it said successful a papers posted connected its website.
The determination aligns with Metaplanet’s committedness to expanding its bitcoin yield, a measurement of the alteration successful the ratio of BTC holdings to shares outstanding. The institution achieved a output of astir 310% successful the 4th quarter, and its output for the archetypal 4th is presently 15.3%.
The acquisition follows past month's $745 cardinal fund-raising exercise done the issuance of 21 cardinal shares. The bitcoin-buying strategy mirrors that of firm pioneers similar MicroStrategy, and it becoming much fashionable successful Japan’s fiscal sector. Last week, vigor steadfast Remixpoint said it spent 9 cardinal yen buying bitcoin past year.
Among publically traded companies, Metaplanet present has the 16th-largest stack, according to Bitcoin Treasuries. Metaplanet shares roseate 2.2% to 6,040 yen connected Monday.
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