Metaplanet Purchased 156 Bitcoins on March 3, Spending Approximately $13.4 Million

This increased the firm's total Bitcoin holdings to 2391 BTC, according to its statement.

Metaplanet, a Japanese technology company, purchased 156 Bitcoin (BTC) on March 3 at an average price of $85,890, spending approximately $13.4 million, according to its statement.

This installment brings the company’s total Bitcoin holdings to 2,391 BTC, which is valued at about $74.9 million at the current price of around $31,430.

Since adopting its Bitcoin strategy in April 2023, the company, led by Simon Gerovich, has now invested $196.3 million in Bitcoin.

The average purchase price stands at $82,100 per Bitcoin, and its total holdings have gained 13% in value since the first purchase.

This year, Metaplanet has been diversifying its investment portfolio by venturing into the U.S. market.

Gerovich recently met with executives from the New York Stock Exchange (NYSE) and Nasdaq. The company discussed its operations and potential ways to make Metaplanet shares more accessible.

“We are considering the best way to make Metaplanet shares more accessible to investors around the world,”

Gerovich posted on X on March 3.

A U.S. listing is being explored, but no official decision has been announced yet.

Metaplanet’s stock, MTPLF, has been trading on OTC Markets since November 2023, allowing more investors to invest in the company’s shares.

OTC Markets is a financial platform in the United States that provides pricing and liquidity data for around 12,400 securities. Since listing, MTPLF shares have climbed 530%, rising from $3 to $18.9.

On the Tokyo Stock Exchange, Metaplanet has been one of the top-performing stocks over the past 12 months, gaining 1,800%, according to Google Finance.

According to BitBo’s BitcoinTreasuries.NET, Metaplanet is the 14th largest corporate Bitcoin holder worldwide. The firm has used various financial instruments to support its Bitcoin strategy.

The company aims to accumulate 21,000 Bitcoin by 2026 as part of its long-term plan to expand its Bitcoin reserves.

Despite growing interest in a U.S. listing, Metaplanet has not made any official announcement regarding its plans.

However, with its Bitcoin holdings increasing and stock gaining momentum, the company is continuing to develop its strategy. It remains to be seen if or when it will pursue a U.S. listing.