Japan’s Metaplanet has boosted its Bitcoin reserves while evaluating the prospect of going public in the U.S.
On March 3, Metaplanet purchased an additional 156 BTC for about $13.4 million, paying $85,890 per coin and increasing its total Bitcoin holdings to 2,391 BTC.
With an average buying price of $82,100 per Bitcoin, the Simon Gerovich-led firm has accumulated $196.3 million in BTC, achieving a 13% gain since it began its investment strategy last April.
Metaplanet’s CEO has suggested that the firm is looking into listing options beyond Japan, including in the U.S. Last week, Gerovich met with officials from the New York Stock Exchange and Nasdaq, where he introduced Metaplanet’s “platforms and functions.”
“We are considering the best way to make Metaplanet shares more accessible to investors around the world,” Gerovich said in a March 3 X post. However, he emphasized that a U.S. listing is not guaranteed, and the company is still evaluating its options.
Metaplanet has not yet decided whether it will proceed with a U.S. listing.
Since November, Metaplanet (MTPLF) has traded on OTC Markets, allowing international investors easier access to its shares.
OTC Markets tracks price and liquidity metrics for about 12,400 over-the-counter securities, many of which originate from outside the U.S.
Since November 22, MTPLF stock has surged 530%, rising from $3 to $18.9.
Additionally, over the past 12 months, Metaplanet’s stock has soared 1,800%, making it one of the best-performing stocks on the Tokyo Stock Exchange, according to Google Finance.
According to BitBo’s BitcoinTreasuries.NET, Metaplanet ranks as the 14th largest corporate Bitcoin owner worldwide.
Since April, Metaplanet has leveraged different financial mechanisms to strengthen its Bitcoin approach, aiming to reach 21,000 BTC by 2026 as it seeks to lead Japan’s Bitcoin movement.
A few days ago, the firm issued $13.3 million in zero-interest ordinary bonds to boost its Bitcoin holdings. This follows the firm’s recent plans to raise 116 billion yen, approximately $745 million, to acquire more Bitcoin.
