Metaplanet buys additional 797 BTC for nearly $94 million as bitcoin extends all-time high rally
Quick Take The Japanese investment firm said Monday that it purchased an additional 797 BTC, bringing its total holdings to 16,352 BTC. Bitcoin has repeatedly hit new all-time highs over the past week and is currently trading at $120,754 at the time of writing.
Japanese investment firm Metaplanet has acquired an additional 797 BTC for approximately $93.6 million, continuing its aggressive accumulation of bitcoin.
Metaplanet CEO Simon Gerovich wrote on X on Monday that the company purchased 797 BTC at an average price of around $117,451 per bitcoin. The latest acquisition brought its total holdings to 16,352 BTC, acquired for $1.64 billion.
"Another week, another tranche," said Gerovich.
Metaplanet remains the world's fifth-largest publicly traded corporate holder of bitcoin, behind Strategy, MARA, Twenty One , and Riot Platforms, according to data . Michael Saylor's Strategy remains at the top of the rankings with 597,325 BTC .
The Japan-listed company pivoted from operating a hotel management business to a bitcoin treasury firm last year. Last month, it announced a revised target to hold over 210,000 BTC by the end of 2027.
In an interview with the Financial Times released last week, Metaplanet stated its plans to borrow against its bitcoin holdings to buy cash-generating businesses. Gerovich said that the company was in a "bitcoin gold rush" that presents opportunities to branch out into sectors such as digital financial services, while noting that the firm's plans to buy other businesses are still in their very preliminary stages.
Metaplanet's bitcoin-centric operations saw robust growth in the second quarter, with revenue reaching nearly 1.1 billion yen ($7.6 million), marking a 42.4% year-over-year increase, according to its quarterly report released earlier this month.
Bitcoin broke above $120,000 late Sunday night to set a new all-time high, and is currently trading up 2.5% over the past 24 hours at $120,754.
Meanwhile, Metaplanet's stock rose 1% to 1,580 yen ($10.7) as of noon in Japan on Monday, with the market still open, data shows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wall Street giants collectively raise rate hike forecasts, US Treasury futures continue to fall, gold drops over 1% to break 4000
After the US October CPI exceeded expectations, Goldman Sachs and Nomura added a forecast for an interest rate hike in March next year, while Deutsche Bank included a forecast for a rate hike in January next year. Currently, the market has fully priced in a 25 basis point rate hike in December, with a 13% probability for a 50 basis point hike. On Wednesday, the US Treasury spot market was closed, but Treasury futures continued to fall, with corresponding yields rising by about 2 to 4 basis points, and spot gold came under pressure, dropping by 1.1%.
No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029
It takes an average of 4.8 years from finalizing investment to starting construction of a data center project, and an additional 2.6 years from construction start to becoming operational. Servers usually cannot be installed until after the building structure and racks are completed. For trade partners such as Taiwan (China), South Korea, and Mexico who rely on US data center supply chain demand, the inertia in construction timelines provides at least a one- to two-year buffer for future exports.
Federal Reserve Major Debate: When Should the Tenure of “Number Three” Williams End?
The main point of contention is whether Williams should step down in June 2028, upon completing a full 10-year term, or in June 2027, when he reaches the mandatory retirement age of 65. Analysts point out that the Federal Reserve Board holds ultimate discretion; if he leaves early, Fed Chair Waller would be able to assert greater control over the appointment to this critical position. However, forcing Williams to shorten his term could easily be interpreted as political manipulation. Williams himself is expected to serve until June 2028.
Crypto prices
More
