Metaplanet (3350), the Japanese company that’s committed to buying bitcoin BTC, boosted its holdings to 10,000 BTC, overtaking crypto exchange Coinbase (COIN) to now own the ninth-largest stash among publicly traded companies.
The Tokyo based company bought 1,112 BTC for $117.2 million at an average price of $105,435 per bitcoin, CEO Simon Gerovich posted on X. The purchase lifted its holdings above Coinbase’s 9,267, according to data on BitcoinTreasuries.com.
As of June 16, Metaplanet’s cumulative bitcoin investment stands at roughly $947 million, with an average acquisition cost of $94,697 per BTC. It started down the bitcoin accumulation path in April 2024.
A standout metric in Metaplanet’s performance is its bitcoin yield, a proprietary measure that tracks the percentage change in the ratio of total BTC holdings to fully diluted shares outstanding. The company has recorded strong figures in recent quarters:
To fund additional BTC purchases, Metaplanet issued $210 million in zero-percent ordinary bonds. Market response to the company’s aggressive bitcoin strategy has been positive, with shares closing 26% higher on Monday, reaching 1,895 yen.
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