Metaplanet Expands Bitcoin Hoard With $15.2M Buy As Shares Implode 32% In A Month
Japan-based Bitcoin treasury firm Metaplanet added $15.2 million worth of BTC to its holdings on Thursday, even as its shares plunged 3%, extending a month-long slide of almost 32%. The latest purchase is part of Metaplanet’s aggressive plan to grow its Bitcoin stockpile toward 210,000 coins by 2027, supported by a potential $3.7 billion capital raise. But investors remain wary, with analysts citing profit-taking, potential share issuances, and market uncertainty as reasons the stock remains under pressure. Metaplanet share price (Source: Google Finance ) Metplanet Clears Path To Raise $3.7 Billion According to the company’s CEO Simon Gerovich, his firm bought an additional 136 BTC at an average purchase price of $111,666 per coin earlier today. The latest buy has pushed Metaplanet’s holdings to 20,136 BTC, valued at approximately $2.08 billion, he said. These coins were bought at a mean price of around $103,196 per BTC. Metaplanet is currently the l...