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.
Japanese hotel and investment firm Metaplanet is continuing its Bitcoin accumulation, adding 497 BTC to its treasury in the third quarter of 2023.
The company, whose stock price has soared by about 2,600% in the past year amid its Bitcoin pivot, disclosed the purchase in a statement on Wednesday.
Metaplanet bought the BTC at an average price of $88,448, for a total value of $43.9 million. The recent buy brings the company’s total Bitcoin holdings to 2,888 BTC, currently valued at around $263.53 million.
Metaplanet has so far spent a total of $240.2 million for its Bitcoin treasury, or an average price of $83,172 per BTC. The company’s BTC holdings have YTD generated a yield of 45.1%.
The company’s shares rose following the news of the recent Bitcoin purchase. At time of writing, Metaplanet’s stock is trading for 4,655 Japanese Yen ($31.22), an increase of around 40% over the past five days.
“I wake up every morning worried 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 focused on accumulating as much as we can so our shareholders can relax,” said Gerovich.
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