Japan-based company Metaplanet has made a $15 million purchase of 136 bitcoins, continuing its aggressive accumulation strategy.
BTC Acquisition
This move reinforces Metaplanet's position in cryptocurrency accumulation. CEO Simon Gerovich stated that the purchase was executed at an average price of $111,666 per coin, contributing to a total expenditure of around $2.08 billion.
Market Position
Following this latest transaction, Metaplanet now ranks sixth among publicly traded companies with the largest Bitcoin reserves, according to BitcoinTreasuries data. Currently, only a few companies, including Michael Saylor's firm with over 636,000 BTC, are ahead.
Company Stock Dynamics
Despite the growing Bitcoin reserves, Metaplanet's stock has faced pressure. On the Tokyo Stock Exchange, the company's shares fell by 1.2% on Monday, extending a 30% decline over the past month. However, year-to-date performance remains strong, with gains of over 100% since January.
Metaplanet continues to actively build its Bitcoin reserves, demonstrating confidence in the cryptocurrency's long-term prospects despite short-term market fluctuations.
