Metaplanet Purchases Additional 463 Bitcoin for $540 Million
Metaplanet (3350), a Tokyo-listed investment firm, acquired 463 bitcoin (BTC) for 7.995 billion yen ($540 million), averaging 17.3 million yen per bitcoin. This purchase increases its total holdings to 17,595 BTC, with overall investment amounting to 261.28 billion yen.
Key points:
- Metaplanet's stock fell over 7% to 987 yen, nearly 50% below its June peak.
- The firm aims to be Asia’s closest proxy to a bitcoin exchange-traded fund.
- BTC Yield reached 309.8% for Q4 2024 and 129.4% for Q2 but declined to 52.6% as of August 4.