Japanese technology company Metaplanet has expanded its Bitcoin holdings while exploring potential listing opportunities on major U.S. stock exchanges.
The company acquired 156 Bitcoin on March 3 at $85,890 per coin, bringing its total Bitcoin reserves to 2,391 BTC. The purchase represents an investment of approximately $13.4 million, with Metaplanet's total Bitcoin investment now reaching $196.3 million at an average purchase price of $82,100 per coin.
CEO Simon Gerovich recently met with officials from both the New York Stock Exchange and Nasdaq to discuss potential listing options. "We are considering the best way to make Metaplanet shares more accessible to investors around the world," Gerovich stated in a social media post.
The company's shares currently trade on Japan's Tokyo Stock Exchange, where they have surged 1,800% over the past 12 months. Since November 2023, Metaplanet stock has also been available to international investors through OTC Markets under the ticker MTPLF, seeing a 530% increase from $3 to $18.90.
Metaplanet ranks as the 14th largest corporate Bitcoin holder globally. The company aims to accumulate 21,000 Bitcoin by 2026 as part of its strategy to lead Japan's Bitcoin adoption. To support this goal, Metaplanet recently issued $13.3 million in zero-interest bonds and announced plans to raise approximately 116 billion yen ($745 million) for additional Bitcoin purchases.
While the company explores U.S. listing options, Gerovich emphasized that no final decision has been made regarding a potential NYSE or Nasdaq listing.