Metaplanet Stock Soars 10% After Disclosing Additional Bitcoin Purchase
Tokyo-listed investment firm Metaplanet’s stock jumped nearly 10% after announcing it purchased additional Bitcoin, bringing its total holdings to over 141 BTC.

Tokyo-listed investment firm Metaplanet Inc. (TSE: [Metaplanet stock code]) saw its shares surge 9.88% on Tuesday, June 11th, 2024, following news of a fresh Bitcoin purchase.
The company disclosed that it bought an additional 23.351 BTC, valued at approximately 250 million yen ($1.58 million) at the time of purchase. This brings Metaplanet’s total Bitcoin holdings to over 141.07 BTC, valued at roughly $9.54 million. This latest acquisition follows previous Bitcoin purchases made on April 23rd and May 10th, 2024.
According to the company’s statement, the average purchase price per Bitcoin was 10.27 million yen, which translates to around $65,300. Bitcoin’s current trading price sits at $67,566 (as of June 11th), down from its peak of nearly $72,000 last week.
Metaplanet’s stock price experienced a significant short-term jump, closing at 89 yen per share on Tuesday. This marks a considerable increase from its initial announcement of a Bitcoin investment focus on April 9th, when the stock traded at around 19 yen per share.
“In response to the pandemic’s impact on the investment landscape,” Metaplanet’s website states, “the company comprehensively restructured its assets and businesses, paving the way for a strategic shift towards a Bitcoin-centric vision.”
Last month, Metaplanet announced its decision to adopt Bitcoin as its primary strategic treasury reserve asset. This decision comes in response to ongoing economic challenges in Japan, including high government debt levels, prolonged periods of negative interest rates, and a weak yen.
According to BitcoinTreasuries.net, public companies globally hold a combined total of 308,688 Bitcoins. Microstrategy Inc. leads the pack with a massive holding of 214,400 BTC, representing over half of its market capitalization.
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