The Japanese hotel and investment firm Metaplanet has issued fresh bonds and accumulated an additional 150 Bitcoin (BTC).
The new Bitcoin acquisition brings the investment firm’s total holdings to 3,200 BTC.
With Bitcoin trading at $81,383 at time of writing, that means Metaplanet currently owns more than $260.4 million worth of the top crypto asset.
To buy the new BTC, the firm’s board of directors approved a new series of bonds to raise 2 billion yen. The bonds have a scheduled maturity date of September 17th.
Metaplanet chief executive Simon Gerovich notes the new purchase puts the firm in the top 10 publicly listed Bitcoin holders globally.
“We are now officially the largest publicly listed Bitcoin holder in Asia — a major milestone as we continue executing our Bitcoin strategy with conviction.”
Metaplanet’s stock has been down 33.17% in the past month but has been up a staggering 1,915% in the past year, per data from MarketWatch.
The Japanese firm has bought its 2,300 Bitcoin at an average price of $83,107 per BTC. The company aims to acquire 10,000 Bitcoin by the end of 2025 and 21,000 BTC by the end of 2026.
Metaplanet also continues to operate a Tokyo hotel, which it plans to renovate and rebrand into “the Bitcoin Hotel.”
BTC is down nearly 3% in the past 24 hours.
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