Haciyev Reşit 
Japan-based Bitcoin treasury company Metaplanet continues to expand its assets with a strategic move. The company announced the purchase of an additional 103 BTC for approximately $11.7 million.
According to Metaplanet’s statement on Monday, the new acquisitions were made at an average price of $113,491 per BTC. With this purchase, the company’s total Bitcoin reserves have risen to 18,991 BTC.
Strategic Growth and Average Cost
Metaplanet President Simon Gerovich stated on X that the company has spent a total of $1.95 billion on Bitcoin purchases to date, with an average acquisition cost of $102,712 per BTC.
Metaplanet launched its Bitcoin accumulation strategy in April 2024. Thanks to this aggressive investment approach, the company has quickly stood out and, according to Bitcointreasuries data, now holds the seventh-largest Bitcoin reserve among publicly traded companies worldwide.
Rise in FTSE Index
It’s not only Bitcoin purchases marking a milestone for Metaplanet. The company was recently added to the FTSE Japan Index following FTSE’s September review. As a result, Metaplanet has been upgraded from a small-cap to a mid-cap stock status.
President Gerovich commented on this milestone:
“Another significant milestone in our journey as Japan’s leading Bitcoin treasury company.”
Stock Performance
Metaplanet shares rose approximately 3.5% around midday on Monday in Japan. Despite a 26.9% decline over the past month, the stock has increased 147.9% year-to-date. Meanwhile, Bitcoin saw a slight pullback in the markets. Over the past 24 hours, BTC fell 1.5%, trading at $113,148 late Sunday night.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.