Metaplanet Closes On Sixth-Biggest Bitcoin Treasury Firm Riot Platforms With New $11.7 Million BTC Buy
Japan-based Metaplanet has acquired 103 BTC worth $11.7 million, bringing it close to surpassing Riot Platforms as the world’s sixth-largest corporate Bitcoin holder. The company’s CEO, Simon Gerovich, said in an Aug. 25 X post that the latest BTC purchase was executed at an average buy price of $113,491 per BTC. Following the recent acquisition, Metaplanet’s holdings in the largest crypto by market cap now stand at 18,991 BTC. Metaplanet Looks To Climb Bitcoin Treasury Rankings Gerovich added that Metaplanet’s holdings were acquired for a total cost of around $1.95 billion, with the overall average price for the acquisitions standing at approximately $102,712 per BTC. So far, the company has also achieved a year-to-date (YTD) BTC yield of 479.5%, Gerovich said. That’s as the company looks to double down on its BTC strategy. Earlier this month, the firm unveiled its Bitcoin-backed yield curve and its “Metaplanet Prefs” program t...