Metaplanet announced their latest Bitcoin purchase on July 16 after securing 21.88 Bitcoin worth over $1.2M. According to the statement, the Japanese firm’s Bitcoin reserve grew to 225.61 BTC, as Google Finance confirmed a 25.8% price hike for the company’s shares, which sold at ¥117.
Also Read: Metaplanet Inc. directors authorize BTC purchases worth ¥1 billion using bond proceeds
According to a May 13 statement, the Japanese firm had announced the transformation of its treasury strategy to focus on Bitcoin as its main reserve asset to counteract the effects of a volatile Yen. On July 12, Metaplanet’s CEO, Simon Gerovich, confirmed the addition of Metaplanet to Coingecko’s list of corporates ‘with Bitcoin on the balance sheet.’
Metaplanet adds to its Bitcoin reserve as it targets 1 billion Yen investment plan
*Metaplanet purchases additional 21.88 $BTC* pic.twitter.com/zCXzKFudog
— Metaplanet Inc. (@Metaplanet_JP) July 16, 2024
In a “Notice Concerning the Purchase of Bitcoins” statement posted on X on July 16, Metaplanet announced that it had acquired 21.9 BTC worth 200 million Yen. The statement comes barely over a week after the company secured 42.46 Bitcoin worth 400 million Yen on July 8. Notably, the Japanese firm had disclosed on June 24 that its Bitcoin purchasing capital would be raised through the issuance of ‘guaranteed’ second series ordinary bonds.
A Metaplanet statement on May 7, which announced Dylan LeClair’s appointment as Director of Bitcoin Strategy, also confirmed the company’s long-term vision of advancing Bitcoin’s role in the global economy. According to the statement, LeClaire was described as a ‘prominent advocate’ for solving fiat currency debasement through Bitcoin adoption.
“At Metaplanet, Dylan will spearhead the strategic corporate Bitcoin strategy, leveraging all available tools in public capital markets to achieve accretive Bitcoin accumulation for the corporate balance sheet.
Since Dylan’s appointment, the Japanese firm confirmed the purchase of 19.86 Bitcoins worth 200M Yen on May 10, and passed a resolution to purchase additional Bitcoin worth 250M Yen on May 28. Metaplanet confirmed buying 250M Yen worth of Bitcoin on June 11 before resolving to invest 1 billion Yen in a June 24 statement.
Consequently, subsequent statements from Metaplanet disclosed the purchase of 20.2 Bitcoins worth 200M Yen on July 1 and 42.47 Bitcoins worth 400M Yen on July 8. The confirmed purchase of 21.9 Bitcoins on July 16 edged Metaplanet closer to its 1 billion Yen mark. The Japanese firm’s Bitcoin investment now stands at $14M (~2.25B JPY) with a total holding of 225.6 Bitcoins, according to the July 16 statement.
Metaplanet’s stock price surges as Bitcoin price bounces back to over $60K
According to data from Google Finance, the Japanese firm’s share price had scaled up 25.8% to 117 JPY two and a half hours after the Tokyo Stock Exchange (TSE) opened. The surge in share prices can be attributed to the Bitcoin price rise by 4.4% to over $63K in the past 24 hours, as per Coingecko.
Google Finance’s data revealed an uptrend in Metaplanet’s share prices since the company’s April 8 announcement to adopt Bitcoin as part of its treasury strategy. The firm’s share prices gained over 515%, from 19 Yen on April 8 to 117 Yen on July 16. According to Coingecko, Metaplanet is currently 21st on the list of the world’s largest publicly traded Bitcoin holders.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed