Bitcoin Wobbles? Metaplanet Buys Big, Breaks $1 Billion Mark
Metaplanet purchased 1,111 BTC for approximately $118.2 million, averaging $106,408 per coin. Bitcoin's price has decreased over 5% recently, trading above $101,000. The firm's quarter-to-date BTC yield is 108%, an increase from previous quarters. Metaplanet's total Bitcoin holdings now amount to 11,111 BTC, valued at over $1.07 billion, with a cost basis of about $95,869 per coin. Shares fell 3.5% following the announcement, raising concerns about funding methods. The company has raised over $300 million through zero-coupon bonds and equity rights since January. Metaplanet aims to hold 210,000 BTC by the end of 2027, necessitating ongoing capital market engagement. The firm established a Bitcoin Treasury Operations arm in December 2024. Its fully diluted share count is nearly 760 million, affecting Bitcoin per share metrics. Metaplanet's strategy mirrors other major holders, balancing potential returns against the risks of stock dilution and market fluctuations.
