Japan's Metaplanet Buys More Bitcoin, Explores Possibility of U.S. Listing

Bitcoin-holding Metaplanet snaps up another 156 BTC as CEO says it is exploring “ways to make its shares more accessible”.

Bitcoin investment firm Metaplanet bought another 156 Bitcoins on March 3 as its CEO says the firm is exploring the possibility of listing outside of Japan, such as in the United States.

The 156 Bitcoins acquired about $13.4 million in Bitcoin at $85,890 per coin, the firm said in a statement on March 3, bringing Metaplanet’s total Bitcoin reserves to 2,391 BTC.

The firm, led by Simon Gerovich, has now bought $196.3 million worth of Bitcoin at an average purchase price of $82,100 per Bitcoin, a 13% increase in value since it first launched its Bitcoin investment strategy in April last year.

Last week, Gerovich met with officials from the New York Stock Exchange and Nasdaq to present Metaplanet’s “platform and capabilities.”

“We are considering the best way to make Metaplanet stock more accessible to global investors,” Gerovich said in a March 3 X post.

Metaplanet may decide not to list in the United States.

Cointelegraph reached out to Metaplanet for comment but did not immediately receive a response.

Metaplanet (MTPLF) shares have been trading on the OTC market since November, making the company’s shares more accessible to international investors.

The OTC market is a U.S. financial marketplace that provides price and liquidity information for approximately 12,400 over-the-counter securities, many of which are international.

Since its launch on November 22, MTPLF shares have risen 530%, from $3 to $18.9.

Metaplanet is also one of the best performing stocks on the Tokyo Stock Exchange over the past 12 months, up 1,800%, according to Google Finance data.

Metaplanet is currently the 14th largest corporate Bitcoin holder in the world, according to BitBo’s BitcoinTreasuries.NET data.

Since April, Metaplanet has adopted a range of financial tools to assist its Bitcoin strategy and plans to accumulate 21,000 Bitcoins by 2026 as part of its broader strategy to lead the Bitcoin resurgence in Japan.