Bitcoin Growth: Metaplanet Japan Buys More, Eyes US Listing

Bitcoin-focused investment firm Metaplanet has added to its Bitcoin holdings, purchasing another 156 coins on March 3. This news comes as the company’s CEO mentioned the firm is considering expanding its reach by seeking a stock market listing outside of Japan, potentially in the United States.
The company announced in a statement on March 3 that it spent approximately $13.4 million for these 156 Bitcoin (BTC), at a price of $85,890 per coin. This latest purchase brings Metaplanet’s total Bitcoin reserves to an impressive 2,391 BTC.
Under the guidance of CEO Simon Gerovich, Metaplanet has now invested a total of $196.3 million in Bitcoin at an average buy price of $82,100 per Bitcoin. Since initiating its Bitcoin investment strategy in April of last year, the company is already seeing a 13% gain on its holdings.
Source: Simon Gerovich
This development follows Gerovich’s recent meetings with representatives from both the New York Stock Exchange and Nasdaq during the past week, where he introduced Metaplanet’s “platforms and functions.”
Gerovich stated in a March 3 post on X, “We are considering the best way to make Metaplanet shares more accessible to investors around the world.”
It’s worth noting that Metaplanet might ultimately decide not to list in the United States.
Metaplanet’s CEO Simon Gerovich pictured by the bell at the New York Stock Exchange. Source: Simon Gerovich
Cointelegraph has reached out to Metaplanet for further comments but has not yet received an immediate response.
Related: Metaplanet raises 4B JPY in 0% interest bonds to buy more BTC
In terms of stock accessibility, Metaplanet shares (MTPLF) have already been trading on OTC Markets since November, which already increases the availability of the company’s stock to international investors.
For those unfamiliar, OTC Markets is a U.S.-based financial marketplace that offers pricing and liquidity information for approximately 12,400 over-the-counter securities, many of which are international.
Since their launch on November 22, MTPLF shares have seen a remarkable climb of 530%, jumping from $3 to $18.9.
Adding to its strong performance, Google Finance data reveals that Metaplanet has also been among the top performers on the Tokyo Stock Exchange over the past year, with an impressive 1,800% increase.
Currently, Metaplanet holds the position as the 14th largest corporate Bitcoin holder globally, according to data from BitBo’s BitcoinTreasuries.NET.
Since April, Metaplanet has been strategically utilizing various financial instruments to support its Bitcoin accumulation plan. The company aims to amass 21,000 Bitcoin by 2026 as part of its broader vision to spearhead a Bitcoin renaissance in Japan.
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