- As per the available data, in the past week, a 5 billion yen amounting to $31.9 million bond was issued by Metaplanet on Friday.
- In 2024, the shares went up by 2,100%, which is mainly due to the company’s extensive Bitcoin adoption strategy.
- Not long ago, Metaplanet generated about 9.5 billion yen ($60.6 million) through two portions of bond issuance targeted at increasing the pace of its Bitcoin purchases.
Metaplanet, a company offering specialized consulting services for adopting Bitcoin has recently added a milestone to its portfolio by making its biggest Bitcoin purchase to date. It recently bought 620 Bitcoins following a sudden decline in the trading prices of the pioneer cryptocurrency.
Today, the company went on to reveal its total acquisition of BTC which stands at 619.7 Bitcoins which is estimated at about $60 million, having an average price of about $96k per Bitcoin. This event has led to a step up for the company, marking another milestone. It has also quadrupled its previous record where it purchased around 159.7 BTC in October.
The acquisition strategy becomes prime value driver
As per the reports, in the current scenario, Metaplanet holds a massive stash of 1,762 BTC, valued at roughly $168 million as of writing, having an average purchase price of about $75,600 per BTC. The firm has also witnessed a 310% bitcoin yield in just three months starting from October 2024.
In the same duration of the last year, an increase of about 41.7% was seen in the last year. As per the company, the Bitcoin acquisition strategy is a prime value driver for shareholders.
Last month, the firm also publicized that a stock acquisition program that targets to generate $62 million for upcoming BTC purchases will be launched. After this publicization, the stock of the company went up by 5% on the Tokyo Stock Exchange. However, it is now low by 13% in the last week.
Reason for skyrocketing of shares
In 2024, the shares went up by 2,100%, which is mainly due to the company’s extensive Bitcoin adoption strategy. Not long ago, Metaplanet generated about 9.5 billion yen ($60.6 million) through two portions of bond issuance targeted at increasing the pace of its Bitcoin purchases.
As per the available data, in the past week a 5 billion yen amounting to $31.9 million bond was issued by Metaplanet on Friday, after a 4.5 billion yen amounting to $28.7 million bond issuance earlier in the week. The bonds are zero interest and will be matured on June 16th of the next year.
The chief executive officer of Metaplanet, Simon Gerovich, reveals that the funds will permit the firm to accelerate its already planned 2025 Bitcoin possessions. A significant portion of the revenue of the company is driven by its Bitcoin-associated activities, mainly its strategy of selling Bitcoin put options.
