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Yahoo
16 hours ago
- Business
- Yahoo
Metaplanet Overtakes Coinbase With 10K BTC, Becomes No. 9 Bitcoin Holder
Metaplanet (3350), the Japanese company that's committed to buying bitcoin BTC, boosted its holdings to 10,000 BTC, overtaking crypto exchange Coinbase (COIN) to now own the ninth-largest stash among publicly traded companies. The Tokyo based company bought 1,112 BTC for $117.2 million at an average price of $105,435 per bitcoin, CEO Simon Gerovich posted on X. The purchase lifted its holdings above Coinbase's 9,267, according to data on As of June 16, Metaplanet's cumulative bitcoin investment stands at roughly $947 million, with an average acquisition cost of $94,697 per BTC. It started down the bitcoin accumulation path in April 2024. A standout metric in Metaplanet's performance is its bitcoin yield, a proprietary measure that tracks the percentage change in the ratio of total BTC holdings to fully diluted shares outstanding. The company has recorded strong figures in recent quarters: Q3 2024 (July to September): 41.7% Q4 2024 (October to December): 309.8% Q1 2025 (January to March): 95.6% Q2 2025 to date (April to June 16): 87.2% To fund additional BTC purchases, Metaplanet issued $210 million in zero-percent ordinary bonds. Market response to the company's aggressive bitcoin strategy has been positive, with shares closing 26% higher on Monday, reaching 1,895 yen.
Yahoo
02-06-2025
- Business
- Yahoo
Vivek Ramaswamy's Strive Secures $750M To Kick Off Bitcoin Treasury Business
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Strive Asset Management and Asset Entities have unveiled their first capital raise to get the ball rolling on their Bitcoin treasury business. Strive intends to differentiate itself in the Bitcoin treasury space with alpha-generating strategies. Asset Entities stock is up over 1,000% since the firm announced a merger with Strive. The rush on Bitcoin by corporations is showing no signs of slowing. Among the latest firms to jump on the bandwagon is Strive Asset Management, the financial services firm co-founded by billionaire and former presidential candidate Vivek Ramaswamy. Roughly three weeks after announcing a merger with Asset Entities (NASDAQ:ASST) that would see the combined company form a public Bitcoin treasury venture, Strive has unveiled its first capital raise to get the ball rolling on the business. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Strive and Asset Entities said on Tuesday that they had secured $750 million through a private investment in public equity to fund their first round of Bitcoin purchases. They said that the transaction included warrants that could allow for an additional $750 million in financing, potentially increasing the proceeds to $1.5 billion. If all warrants are exercised, the firm could launch with the fifth largest Bitcoin holdings among public firms, according to The modus operandi for Bitcoin treasury firms has so far been to raise capital through some form of low-interest debt or equity offering to purchase Bitcoin at market price, yielding returns for shareholders when the asset rises. Strive intends to do this while leveraging its asset management expertise to incorporate alpha-generating strategies that aim to outperform Bitcoin. Trending: New to crypto? on Coinbase. The alpha-generating strategies that have been outlined by Strive include acquiring biotechnology firms trading below their cash balance to unlock discounted cash, acquiring distressed Bitcoin claims and purchasing bottom tranches of structured Bitcoin credit vehicles. The firm already has the ball rolling on at least one of these efforts. It said last week that it was considering the purchase of 75,000 BTC worth of distressed claims tied to the defunct Mt. Gox exchange. Using these strategies, Strive intends to acquire Bitcoin at a significant discount to market value. Strive CEO Matt Cole said Tuesday at Bitcoin 2025 that this will enable the firm to outperform Bitcoin, regardless of whether its value increases or decreases. 'We're alpha seekers. And when you think about how to value a company that's doing both Bitcoin accumulation through beta strategies that accrue value to common equity shareholders and alpha, you have to think about the valuation framework differently. And our belief is that it should be higher,' Cole said, arguing that Strive deserved a higher valuation to net asset value than the competition. Asset Entities stock is up over 1,000% since the firm announced a merger with Strive. On the day, however, the stock price fell over 12% during normal trading hours but gained 4% after hours. Meanwhile, Bitcoin is trading near $108,000 at last look, up 13% in the past month but down 1.2% on the day. Read Next: A must-have for all crypto enthusiasts: . Hasbro, MGM, and Skechers trust this AI marketing firm — Image: Shutterstock Send To MSN: 0 This article Vivek Ramaswamy's Strive Secures $750M To Kick Off Bitcoin Treasury Business originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
