Metaplanet Boosts Bitcoin Holdings, Eyes US Listing

Japan's Metaplanet, a Bitcoin-focused investment firm, has expanded its cryptocurrency holdings by purchasing an additional 156 Bitcoin on March 3. The company's CEO, Simon Gerovich, has also hinted at the possibility of a potential listing outside of Japan, with the United States being a prime candidate.

The latest purchase, valued at around $13.4 million or approximately $85,890 per coin, brings Metaplanet's total Bitcoin stash to 2,391 BTC. Since initiating its Bitcoin investment strategy in April 2021, the firm has spent $196.3 million on Bitcoin, with an average purchasing price of $82,100 per coin. This represents a 13% increase in the value of its Bitcoin holdings.

Gerovich has been exploring the possibility of making Metaplanet shares more accessible to global investors. He recently met with officials at the New York Stock Exchange and Nasdaq to introduce the company's platforms and functions. While a US listing is a possibility, Metaplanet may ultimately decide against it.

Metaplanet's shares have already been trading on OTC Markets since November, making the company's stock more accessible to international investors. Since its launch on Nov. 22, MTPLF shares have risen by 530%, from $3 to $18.9. Additionally, Metaplanet has been one of the best performers on the Tokyo Stock Exchange over the last 12 months, increasing by 1,800%.

As of now, Metaplanet is the 14th largest corporate Bitcoin holder in the world, according to data from BitBo's BitcoinTreasuries.NET. The company has adopted various financial instruments to support its Bitcoin strategy and aims to accumulate 21,000 Bitcoin by 2026. This ambitious goal is part of Metaplanet's broader strategy to lead Japan's Bitcoin renaissance.