Metaplanet Acquires Additional 696 BTC, Total Holdings Reach 4,046 BTC
Japanese hotel company Metaplanet (3350) has acquired 696 BTC for approximately $58.5 million, increasing its total holdings to 4,046 BTC.
- The average purchase price was nearly 14.6 million yen ($97,500). Total expenditure reached 10.15 billion yen.
- Average cost of all BTC holdings is around $86,500.57 per coin.
- Purchases in Q1 were financed through cash secured BTC put options, generating revenue of 770.3 million yen.
- This strategy allowed the company to acquire more bitcoin relative to direct purchases at higher prices above $100,000.
- Metaplanet is now the ninth largest public holder of bitcoin.
- Shares closed up 2% at 409 yen, outperforming the unchanged Nikkei 225.