The Tokyo-listed company Metaplanet, whose stock prices have fallen significantly over the past year, continues to expand its Bitcoin bank. According to reports, the company has added 27832 bitcoins over the past 12 months, increasing the size of the warehouse approximately three times over a year ago.

The holding tank increased to 40177 a year

During the first quarter of this year, Metaplanet bought an additional 5075 bitcoins, with an investment of approximately $405.4 million, at an average purchase price of approximately $7988 per item. Upon completion of this increase, the company had a total hold of 40177 bitcoins.

On the basis of the disclosed data, the cumulative acquisition cost of the Bitcoin was approximately $4.18 billion and the average warehouse cost was approximately $104,4106 per item. At the same time, it was mentioned that Metaplanet was still profitable despite stock price pressures.

Fragmentation and valuation

The report cites market comments that Metaplanet has accumulated a decline of about 87 per cent over the past year. The view was also expressed, however, that the company ' s current share price was below book value and that there was a clear division between market pricing and its asset position.

It was also mentioned that market observers described this valuation as “a price below book value” and noted that the company was lower than some of its business leverage levels, but that the stock price was still subject to a high level of pressure.

Continue the deployment of bitcoin-related infrastructure

In addition to the continued increase in bitcoin, Metaplanet is also moving forward with the accompanying layout around the reserve assets. Simon Gerovich, CEO of the company, recently stated that Metaplanet had signed an agreement to acquire the full shares of Siiibo Securities Co., Ltd.

This transaction, valued at 2,1 billion yen or approximately $13.1 million, is expected to be completed in July. In the event of a transaction, Metaplanet ' s business will be further extended from mere currency holding to the area of financial infrastructure.