Metaplanet Inc. (TYO: 3350, OTCQX: MTPLF) has amassed a total of 20,000 BTC, overtaking Riot Platforms’ (RIOT) 19,239 BTC treasury, to become the sixth-largest publicly traded corporate bitcoin treasury, according to BitcoinTreasuries.net data.
The Tokyo-listed company completed its latest acquisition on September 1, buying 1,009 BTC for roughly ¥16.3 billion (about $110.7 million), raising its cumulative bitcoin investment to approximately $2.06 billion. Metaplanet funded the purchase through a shareholder-approved 130.3 billion yen ($884 million) rights offering at an extraordinary general meeting in late August.
CEO Simon Gerovich recently secured investor approval to issue preferred shares with 6% dividends aimed at funding its treasury strategy while creating a bitcoin-backed yield curve. The firm has signaled ambitions to increase its holdings to 30,000 BTC by year-end via additional international share issuances and strategic partnerships.
Shares of Metaplanet have surged 599% in the past year and 138% YTD, driven by its rapid bitcoin accumulation program.
Read More: Breaking down Metaplanet’s play-by-play imitation of Strategy
