Metaplanet buys the dip with biggest-ever 620 Bitcoin buy
Metaplanet, a Japanese investment firm, has purchased 619.7 Bitcoin for nearly $60 million, marking its largest single Bitcoin acquisition to date. This purchase increases its total Bitcoin holdings to 1,762 BTC, valued at approximately $168 million. The firm's average purchase price per Bitcoin is around $75,600. Metaplanet's Bitcoin stack is now the twelfth largest among public companies. The firm reported a BTC Yield of 310% from October to December, significantly higher than the previous quarter's 41.7%. Metaplanet plans to formalize "Bitcoin accumulation and management" as a business line, involving various financial instruments for Bitcoin acquisition. The firm aims to raise over $62 million through a stock acquisition program for further Bitcoin purchases. Following the announcement, Metaplanet's stock price rose 5% but remains down nearly 13% over the past week, despite a year-to-date increase of over 2,100%.
