Chinese firm Metaplanet has purchased an additional 135 Bitcoin for$ 13 million, according to a business disclosure—mere days before Bitcoin‘s rate dropped to a three-month low on Tuesday.
The Tokyo-listed investment firm acquired Bitcoin at an average price of ¥14, 360, 449 ($ 96, 185 ) per coin, raising its total holdings to 2, 235 BTC—approximately$ 196 million at current prices.
This order happened straight before Bitcoin’s rate dropped below$ 91, 000 by Tuesday lunch in Japan, soon after Metaplanet’s order. At the time of reading, Bitcoin is changing hands at under$ 88, 000.
The company’s profile is still in generally good territory despite purchasing at a higher price; in fact, since its Bitcoin accumulation strategy started accumulating sats and building up its Bitcoin stash in April of last year, it has accumulated about 12 % in unfulfilled gains.
Metaplanet’s share price on the Tokyo Stock Exchange ( TYO: 3350 ) dipped by 3.22 % on the news, to ¥6, 010 ($ 40.13 ), per data from Yahoo Finance.
Its “BTC Yield” metric reached 23.2 % for the quarter-to-date period ending February 25, steadily tracking toward its 35 % target for Q1 2025, the company reported.
Through cash business activities, including the release of property consolidation rights and bonds, the company has developed a planned Bitcoin acquisition strategy.
Metaplanet’s” 21 Million Plan”
Earlier in January, Metaplanet announced that it was looking to boost its Cryptocurrency investments by 470 % within the year, to keep 10, 000 BTC by the end of 2025, and 21, 000 BTC by the end of 2026.
These techniques, according to the firm, were aligned with its commercial bank operations, which became an established company line late last year in December.
The company’s strategic accumulation continues despite Bitcoin’s recent volatility, with its average acquisition cost across all holdings at ¥12, 441, 856 ($ 81, 834 ) per Bitcoin—still substantially below current market prices, withstanding short-term volatility.
The firm has since completed 5.5 % of its previously announced” 21 Million Plan”, raising approximately ¥7.13 billion ($ 47.7 million ) through the exercise of stock acquisition rights to fund its ongoing Bitcoin purchases.
Last week, the company, touted as” Asia’s response to MicroStrategy”, announced that it already held some 0.01 % of Bitcoin’s total offer.
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