Metaplanet Surpasses Coinbase in Bitcoin Holdings
- Metaplanet purchased an additional Bitcoin stack of 1,112 BTC for $117 million, raising its total to 10,000 BTC.
- The firm now holds more Bitcoin than Coinbase, which has a treasury of approximately 9,267 BTC.
- Metaplanet plans to increase its holdings to a total of 210,000 BTC by the end of the next year and a half.
- The company’s stock surged over 20% following these announcements, reaching a peak price of ¥1,860 on the Tokyo Stock Exchange.
- Despite recent market volatility where Bitcoin’s price fell from $110,000 to $103,000 due to geopolitical tensions, institutional demand remains strong.
Metaplanet’s strategic acquisition of additional Bitcoin positions it as the seventh-largest publicly traded company with significant Bitcoin holdings. The firm’s aggressive expansion plan aims for substantial growth in its cryptocurrency assets despite recent market fluctuations.
This development underscores ongoing institutional interest in Bitcoin as Metaplanet continues its ambitious goal of acquiring up to 210,000 BTC. (Source)
