Metaplanet presses ahead with bitcoin purchase plans as shares slide

Metaplanet, Asia's largest publicly traded bitcoin holder, is continuing its aggressive bitcoin accumulation strategy even as its stock price has fallen sharply, dropping about 82% from its June high. CEO Simon Gerovich stated the company will "steadily continue to accumulate bitcoin" and thanked supportive shareholders. The company's average acquisition cost is approximately $107,000 per bitcoin, significantly higher than the current price of $66,270, placing its investment deep in the red. Metaplanet's "555 Million Plan" targets holding 100,000 BTC by the end of 2026 and 210,000 BTC by 2027, having already increased holdings to 35,102 BTC. To fund further purchases and pay down debt, the Tokyo-based firm recently announced plans to raise up to 21 billion yen through a new share offering.

(Source：CoinDesk)