Metaplanet has acquired a total of 161.3 BTC, now valued at 1.65 billion yen. The firm’s average purchase price per bitcoin is 10,231,438 yen, or $62,741.
The Japanese investment firm Metaplanet has added $1.2 million worth of Bitcoin to its holdings, continuing its recent buying spree. Currently, Metaplanet’s acquisition of 161.3 Bitcoin (BTC) is valued at 1.65 billion yen, with the average purchase price per bitcoin being 10,231,438 yen, or $62,741. In June, Metaplanet adopted a strategy similar to MicroStrategy’s, issuing a $7 million bond to finance its Bitcoin acquisitions. This strategic move aligns with the firm’s ongoing efforts.
As the yen’s value declines, Japanese companies like Metaplanet may be taking such steps to hedge against further currency depreciation.
A major strategic shift has occurred for Metaplanet, marked by the adoption of several significant proposals at a recent general meeting. The decisions made on June 28, 2024, will transform the leadership, share structure, and overall direction of the firm.
The approval of four key agenda items at the June 28, 2024, extraordinary general meeting of shareholders has signaled a significant change in Metaplanet’s trajectory. Firstly, the company’s Articles of Incorporation were amended to incorporate its new strategic focus on using Bitcoin for treasury management.
Shareholders also approved a share consolidation plan, which will reduce the total number of authorized shares to 22,823,794 by consolidating 10 common shares into 1. This plan will take effect on August 1, 2024. Additionally, the meeting approved an increase of 65 million shares to the total authorized shares, enhancing the company’s capacity to issue shares.
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