The Japanese hotel and investment firm, which experienced a remarkable stock price increase of approximately 2,600% in the past year following its transition to Bitcoin, continues to expand its BTC holdings.
In an official announcement, Metaplanet revealed that it has boosted its Bitcoin reserves as part of its ongoing Bitcoin Treasury strategy.
CEO Simon Gerovich stated that the company acquired 497 BTC for $43.9 million, averaging $88,448 per Bitcoin.
This latest purchase raises the firm’s total Bitcoin holdings to 2,888 BTC, with a current valuation of about $263.53 million, based on the leading cryptocurrency’s price of $91,249.
Gerovich noted that Metaplanet has invested a total of $240.2 million for its Bitcoin collection, averaging $83,172 per BTC. The company has achieved a year-to-date (YTD) BTC yield of 45.1% so far.
The publicly traded firm saw a significant spike in its share price following the recent Bitcoin acquisition. As of this writing, Metaplanet’s stock is trading at 4,655 Japanese Yen ($31.22), reflecting a roughly 40% increase over the last five days.
Gerovich emphasized that Metaplanet is actively purchasing Bitcoin for the benefit of its investors.
“I worry every day that we don’t own enough Bitcoin. The opportunity to buy won’t last forever. Soon, there will be two types of people: those who own Bitcoin and those who will regret not having purchased it. At Metaplanet, we’re accumulating as much as we can so that our shareholders can feel secure.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own research before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transactions and trades are your own responsibility, and any losses you incur are your own risk. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it act as an investment adviser. Note that The Daily Hodl is involved in affiliate marketing.
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