Metaplanet has added more Bitcoin to its treasury, racing toward its year-end and long-term targets as its stock faces pressure from recent losses.
Summary
- Metaplanet adds 136 BTC worth $15 million, raising its total holdings to 20,136 BTC as it pushes toward a 30,000 BTC goal by year-end.
- The firm’s stock struggles are deepening, with shares down 3.8% today, nearly 20% on the week, and over 30% on the month.
- Asian Bitcoin treasuries are expanding, with firms like Sora Ventures and Remixpoint planning funds for long-term accumulation.
Metaplanet has announced the addition of 136 Bitcoin (BTC) to its treasury. According to its official disclosure on September 8, the purchase was made at a total $15.2 million, costing roughly $111,666 per coin.
The buy raises the company’s total holdings to 20,136 BTC, now worth just over $2 billion at current market prices, extending its steady pattern of accumulation since pivoting from hospitality management to a Bitcoin treasury vehicle.
However, the latest purchase is one of the smallest additions Metaplanet has made in recent months, likely caused by the ongoing struggles in its stock, which has faced heavy selling pressure in recent months.
Metaplanet stock plummets, can it still meet its BTC targets?
At press time, market data shows Metaplanet’s stock is trading at ¥682, down 3.8% today. That extends a slide of nearly 20% over the past week and leaves shares more than 30% lower compared to one month ago. This marks a 63% drop from its highest point this year, sharply reversing the company’s earlier strong performance and making it one of the worst-performing Bitcoin treasury companies in the industry currently,
The slump is likely driven by profit-taking, particularly after the stock surged nearly 3,980% from its 2024 lows earlier in the year. Valuation concerns ar
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Author: Grace Abidemi
