Japan’s first and only publicly listed Bitcoin (BTC) treasury company now owns one in every 10,000 of the king coin’s capped supply.
In a statement, the Japanese hotel and investment firm Metaplanet says that its Bitcoin holdings have reached 2,100 BTC, or 0.01% of the crypto asset’s maximum total supply of 21 million, following its acquisition of an additional 68.59 BTC this month.
“Since initiating its Bitcoin strategy on April 8, 2024, the Company has continued to accumulate Bitcoin as part of its treasury operations…The Company announces the acquisition of additional Bitcoin as part of its ongoing Bitcoin Treasury Operations.”
In its latest purchase, Metaplanet spent an average price of 14,527,372 yen ($96,951) per BTC for a total of 996,432,413 yen ($6.65 million). The company says it invested an average of 12,318,518 yen ($82,146) per BTC, or 25.869 billion yen ($172.49 million) for its total Bitcoin holdings as of February 20th.
The flagship crypto asset is currently trading for $98,186, which brings the value of Metaplanet’s aggregate Bitcoin stash to $206.19 million.
Metaplanet’s Bitcoin holdings grew by over 2,046%, from just 97.850 BTC in April last year when it initiated its Bitcoin strategy to 2,100 BTC this month. The company says it is focused on its Bitcoin Plan target to own 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
Data from the BTC holdings monitor Bitcoin Treasuries shows that the Japanese firm is now the 14th largest corporate holder of the benchmark crypto asset.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here