Metaplanet has picked up 1,005 BTC for a total purchase price of $108.5 million, bringing total holdings to 13,350 BTC, the company revealed Monday in a post on X.
This purchase coincides with an issue of 30 million Japanese Yen in 0% ordinary bonds, the raised funds will be used to purchase additional BTC.
Metaplanet’s Bitcoin treasury strategy has now led to the company being the 5th largest corporate holder of Bitcoin according to CoinGecko. Metaplanet is now placed ahead of electric car company Tesla and cryptocurrency company Coinbase Global Inc.
To fund its acquisition of Bitcoin, Metaplanet consistently issues bonds. Earlier this month, on June 16, the company issued its 18th series of bonds, raising a total of $210 million. These bonds are to mature on December 12, this year, and have no interest attached to them as per Metaplanet’s company notice. On June 25th, Metaplanet redeemed and repaid the 16th, 17th, and 18th series of bonds.
Latest purchases by other companies with a strong Bitcoin treasury strategy includes Strategy’s 245 BTC acquisition on June 23, and The Blockchain Group’s 60 BTC acquisition on June 30.
Source: Google Finance
Metaplanet shares picked up by 10.74% on Monday and were trading at 1,650 Japanese yen per share at the time of reporting.