Despite its Bitcoin pivot the Japanese investment and hotel firm continues to collect BTC. Its stock has risen by 2,600% in just one year.
Metaplanet has released a statement stating that it is increasing its BTC holdings as part of ongoing Bitcoin Treasury Operations.
Simon Gerovich, CEO of Metaplanet, said that the company purchased 497 BTC valued at $43.9 Million and an average price per Bitcoin was $88,448.
With the recent purchase, the total Bitcoin assets of the company now stand at 2,888 BTC. This is valued at approximately $263.53 millions based on its current value of $91,249.
Gerovich claims Metaplanet has spent $240.2 millions on its Bitcoin hoard, or $83,172 for each BTC. To date, the company’s BTC yield is 45.1%.
After the Bitcoin purchase, Metaplanet’s stock price increased. Metaplanet stock was trading at 4,655 Japanese Yuen ($31.22) as of the time this article is written, up around 40% in just five days.
Gerovich claims Metaplanet aggressively buys Bitcoin to the benefit of their investors.
I worry about not having enough bitcoin every day. The buying window won’t last forever. There will soon be two types of people, those that own Bitcoins and those regretting not purchasing it. Metaplanet is accumulating the most we can to allow our investors to relax .”
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Sources of Images include Pixabay Creative Commons & Midjourney
The post Bitcoin Hoarder stock that’s up 2,689% in one year jumps again amid new 497 BTC purchase may be updated as the updates unfold.
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