Japan-based Metaplanet has expanded its Bitcoin holdings, purchasing 696 BTC for 10.152 billion yen ($67 million), the company announced in an April 1 post on X.
The investment pushes Metaplanet’s total Bitcoin stash to 4,046 BTC, valued at over $341 million at the time of writing.
Source: Metaplanet
Stock split targets investor accessibility
The acquisition comes shortly after Metaplanet issued 2 billion Japanese yen ($13.3 million) of bonds to buy more BTC, Cointelegraph reported on March 31.
Source: Simon Gerovich
The move also comes shortly after Metaplanet’s 10-to-1 reverse stock split. The company had previously warned in a Feb. 18 filing that its share price had risen significantly, creating a high barrier to entry for retail investors.
“We implemented a reverse stock split consolidating 10 shares into 1. Since then, our stock price has risen