Metaplanet Increases Bitcoin Holdings by 162 BTC

Metaplanet, a Japanese investment firm, announced on October 12 through X (formerly Twitter) that it has acquired an additional 162 Bitcoins (BTC).

Total Bitcoin Holdings Rise to 3,050 BTC

With this latest purchase, Metaplanet's total Bitcoin holdings have risen to 3,050 BTC. The average purchase price stands at ¥12,607,094 (approximately $123,000) per Bitcoin. The total value of Bitcoins currently held by the company amounts to ¥38.452 billion (approximately $377 million).

Significant Returns Recorded

According to CoinPedia, Metaplanet recorded a return of approximately 309% from its Bitcoin purchases in the fourth quarter of last year and achieved around a 53% return through March of this year. The company aims to expand its Bitcoin holdings to 10,000 BTC by the end of this year.

Board Approves New Bond Issuance

To facilitate its additional Bitcoin purchases, Metaplanet's board approved the issuance of its eighth series of common bonds. The firm plans to raise ¥2 billion (approximately $19.5 million) through a third-party allotment. These bonds will be issued as zero-coupon bonds and will mature on September 11.

Leveraging Japan's Low Interest Rates

Metaplanet has been utilizing a borrowing strategy capitalizing on Japan’s low interest rates to fund its Bitcoin acquisitions. The company is now one of the largest Bitcoin holders in Asia.

This article was prepared by O Suhwan, Block Media.