Tokyo-based investment firm Metaplanet Inc. witnessed a 15.1% surge in its stock price on Tuesday after announcing the purchase of an additional 124.1 Bitcoin (BTC), valued at approximately $11.3 million.
The company revealed that it acquired the cryptocurrency at an average price of 14.1 million yen ($91,266) per BTC, bringing its total Bitcoin holdings to 1,142.2 BTC, worth about $104.8 million.
Metaplanet’s stock closed at 2,295 yen, with daily trading turnover reaching an impressive 21.9 billion yen ($141.7 million). The company’s shares have soared 1,334% year-to-date, outperforming many larger firms on the Nikkei 225 index, which rose 0.5% on the same day. Â
CEO Simon Gerovich highlighted the significance of the move, stating on X that Metaplanet ranked 29th among 4,000 listed Japanese companies in trading value, surpassing industry giants like Itochu and NTT.
This latest purchase aligns with Metaplanet’s strategy to adopt Bitcoin as a treasury reserve asset, a move announced in May. The company also disclosed an impressive BTC yield of 186.9% between October 1 and November 19. Â
To fund this acquisition, Metaplanet issued one-year bonds worth 1.75 billion yen ($11.3 million), set to mature in November 2025. The firm’s commitment to Bitcoin echoes similar strategies by MicroStrategy, which remains the largest corporate Bitcoin holder with 331,200 BTC.
Also Read: Bakkt Shares Soar 162% Amid Trump Media Acquisition Talks
