news 
Metaplanet Makes Largest BTC Purchase to Date Despite Bitcoin Price Correction
In a move that has sent shockwaves throughout the cryptocurrency market, Metaplanet has made its largest Bitcoin purchase to date, despite a recent price correction. The company’s decision to increase its holdings comes as investors are showing signs of caution due to the 9.8% drop in Bitcoin’s value over the past week.
According to an official press release, Metaplanet executed a massive acquisition of nearly 620 BTC, valued at approximately $60.6 million. This marks the firm’s largest single purchase of Bitcoin to date and brings its total holdings to an astonishing 1,761.98 BTC, now worth almost $168 million.
Over the past six months, Metaplanet has leveraged various capital market activities to fund its Bitcoin purchases, including stock rights issuances and zero-coupon bonds. The company recently announced a ¥5 billion bond issuance on December 20, valued at approximately $31.9 million, as well as a separate ¥4.5 billion issuance set to mature in June 2025.
Metaplanet’s aggressive stance on Bitcoin investment has led to a staggering BTC yield increase of almost 310% between October 1 and December 23, highlighting the significant growth in its Bitcoin holdings relative to its fully diluted shares outstanding.
Source: cryptopotato.com
