Japanese hotel company Metaplanet (3350) has acquired 162 bitcoin (BTC) for $13.5 million at an average price of $83,123 per bitcoin, achieving a year-to-date bitcoin yield of 53.2%.
The BTC yield represents the percentage change in the ratio of bitcoin holdings to fully diluted shares outstanding over a given period. As of March 12, Metaplanet holds 3,050 BTC valued at $253.7 million, with an average acquisition price of $83,180 per bitcoin.
Additionally, the company has issued 2 billion JPY ($13.5 million) in zero interest ordinary bonds to fund further bitcoin acquisitions. At the time of writing, Metaplanet shares were trading at 3,630 yen, down almost 50% from it’s all-time high in February.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
"Extreme fear" grips crypto and metals while U.S. equities show resilience ahead of key earnings.Read…
The ‘Big Short’ investor compared the current slide with a one-time past cycle breakdown that…
Stifel analysts predict bitcoin could fall to $38,000 using an analogy of the movie "The…
Bitcoin is now approximately 20% below its estimated average production cost, historically a feature of…
Blockchain analytics firm Glassnode released a new report on Wednesday highlighting a growing list of…
Capital flow in the cryptocurrency market usually follows a script: Bitcoin leads, Ethereum follows, and…