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Metaplanet Buys 497 BTC in Another Bargain-Hunting Bitcoin Acquisition
This brings its total BTC holdings to 2,888 BTC.
Updated Mar 5, 2025, 10:02 a.m. Published Mar 5, 2025, 5:18 a.m.
What to know:
Tokyo-listed Metaplanet announced on Wednesday that it had acquired 497 bitcoin (BTC), valued at $43.3 million, at an average price of $88,448, the company's CEO Simon Gerovich announced on X.
This brings its total BTC holdings to 2,888 BTC. The firm's total coin stash has an aggregate cost basis of 36.444 billion yen ($240 million), with an average purchase price of $83,172.
Metaplanet announced a similar bargain-hunting operation on Monday that saw the firm snap up 156 BTC, as the cryptocurrency's spot price fell back to $87,000, reversing the weekend's rise. As of writing, BTC changed hands at $87,200.
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