Bitcoin Hoarder Stock That’s Up 2,689% in One Year Jumps Again Amid New 497 BTC Purchase
The Japanese hotel and investment firm, which saw its stock price surge by around 2,600% over the past year amid its Bitcoin pivot, is continuing to accumulate BTC.
In a published statement, Metaplanet says it increased its BTC stack as part of its ongoing Bitcoin Treasury operations.
Metaplanet CEO Simon Gerovich says the company bought 497 BTC worth $43.9 million at an average price of $88,448 per Bitcoin.
The recent acquisition brings the company’s total Bitcoin holdings to 2,888 BTC, valued at around $263.53 million based on the flagship crypto asset’s current price of $91,249.
Gerovich says Metaplanet spent a total of $240.2 million for its Bitcoin hoard or $83,172 per BTC. The company has so far achieved a BTC yield of 45.1% year-to-date (YTD).
The publicly traded company’s share price jumped after the recent Bitcoin acquisition. At time of writing, Metaplanet’s stock is trading for 4,655 Japanese Yen ($31.22), up by around 40% over the past five days.
Gerovich says Metaplanet is aggressively buying Bitcoin for the benefit of its investors.
“I worry every day that we don’t own enough Bitcoin. The window to buy won’t stay open forever. Soon, there will be two kinds of people: those who own Bitcoin and those who regret not buying it. At Metaplanet, we’re accumulating as much as we can so our shareholders can relax.”
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Author: Rhodilee Jean Dolor
