Metaplanet gets an additional 124 BTC as a share price skyrocket

Metaplanet announced the purchase of 124,117 bitcoins for a total of 1.75 billion yen.

This brings the company's total bitcoin holdings to 1,142.287 BTC, worth 11.372 billion yen (approximately $73 million).

Metaplanet stock rose by 15 percent

According to a post on X, the new purchase was made at an average price of 14,099,600 yen per BTC. In the year As of November 19, 2024, Metaplanet's average acquisition price per bitcoin is now 9,955,874 yen or about $64,800.

Following the announcement, Google's financial data showed that the company's share price rose more than 15 percent to 2,295 yen, which is less than $15. The latest purchase also increased the company's quarter-to-date (QTD) BTC yield to 186.9%, up from 41.7% last quarter.

Since adopting Bitcoin as a treasury, Metaplanet has been actively growing its stock through capital market activities and operational earnings. The company previously received a 1 billion yen ($6.8 million) loan from its shareholder MMXX Ventures.

In addition, it has conducted 11 rounds of share acquisition rights, the latest of which, raising 11 billion yen, closed on October 23.

More recently, it announced a new debt issuance plan that involves selling one-year ordinary bonds, worth $1.75 billion ($11.3 million) at an annual interest rate of 0.36 percent.

Proceeds from this bond issuance will be allocated to bitcoin purchases only. In the year It will mature on November 17, 2025 and will be redeemable in 100 yen denominations at its total face value.

Previous purchases

Metaplanet's journey to Bitcoin began in May 2024, when the company entered the kriptovalyutnoy market as a strategy to prevent economic volatility. Taking inspiration from the micro strategy approach, the investment firm has steadily increased its bitcoin holdings.

Interestingly, the latest acquisition comes a day after MicroStrategy announced that it had acquired 51,780 BTC for over $4.5 billion.

In June of this year, Metaplanet bought the first 23.35 BTC for 1.6 million dollars. The company followed this up with another 42.4 BTC for $2.4 million. By mid-year, his holdings had grown to 203.7 BTC.

Additional purchases in 2024 included 57,273 BTC worth $3.4 million in July and 106,976 BTC worth $6.6 million in early October. The most important purchase came later in the same month when he added 156.7 BTC for $10.4 million, bringing his total holdings above 1,000 BTC for the first time.