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Metaplanet Inc. plans to increase its Bitcoin holdings by 470%, aiming to reach 10,000 BTC this year as it continues to build on an accumulation strategy first undertaken in April.
CEO Simon Gerovich says Metaplanet will expand its BTC holdings by “utilizing the most accretive capital market tools available.”
“Last year was transformational, as we broke records, expanded our Bitcoin treasury, and reinforced our position as Asia’s leading Bitcoin Treasury Company,” Gerovich tweeted Saturday. “This year, we’re laser-focused on execution and driving even greater value for our shareholders.”
The Tokyo-based investment firm currently holds 1,761.98 BTC worth 27.2 billion yen (US$173.6 million), according to a December 23 regulatory filing.
It follows a series of 19 purchases last year, with an average acquisition price of 11,846,002 yen per Bitcoin (roughly $75,000 each).
Its most recent purchase of 619.70 BTC for 9.5 billion yen in December marked its largest single acquisition, representing about 35% of its total holdings.
The firm’s Bitcoin holdings began with 97.8 BTC on April 22, growing rapidly in jus…
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