Metaplanet Acquires 269 BTC Worth Over $26 Million

Tokyo-based investment firm Metaplanet has acquired 269 bitcoins (BTC) valued at 4 billion yen (over $26 million), the company announced Monday. 

The company’s latest purchase brings its total Bitcoin holdings to approximately 2,031 BTC, worth roughly $196 million at the current market price. With an average acquisition cost of approximately $80,700 per coin, Metaplanet’s BTC investment has seen a 16% increase in value.

Metaplanet Plans to Buy Big

Metaplanet’s latest BTC buy comes after the Tokyo-based company recently raised 4 billion yen (approximately $26 million) through a zero-coupon bond offering to EVO FUND. The firm also approved the issuance of 21 million shares to EVO FUND through Stock Acquisition Rights. These actions are part of Metaplanet’s Strategy to secure further funds for additional bitcoin purchases. 

Earlier this month, to accelerate its Bitcoin holdings, Metaplanet announced plans to purchase 21,000 BTC worth $2 billion by 2026. The move highlights the company’s deepening commitment to Bitcoin as a core asset amid shifting economic conditions. 

Before the statement, the firm had established goals to purchase a total of 10,000 BTC this year, which further cements the company’s confidence in Bitcoin’s long-term value. 

In May 2024, Metaplanet decided to adopt Bitcoin as a reserve asset, driven by Japan’s economic difficulties and the ongoing decline of the yen. This move has drawn a significant influx of new retail investors, including many making their first Bitcoin purchases. 

According to data from Bitcoin Treasuries, Metaplanet is currently the 14th largest publicly traded company worldwide holding Bitcoin. The firm ranks second in Asia, trailing behind Boyaa Interactive of China, which has 3,183 BTC. 

Data from MarketWatch shows that Metaplanet’s stock price has risen by 75% since the start of the year, with the surge closely following its Bitcoin strategy announcement.

A $10 Billion Gain?

Metaplanet’s aggressive Bitcoin acquisition strategy mirrors that of Strategy (formerly MicroStrategy), the largest corporate Bitcoin holder. Like Strategy, Metaplanet is committed to expanding its BTC portfolio as part of its long-term financial strategy.

Notably, Strategy recently reported a 74.3% yield on its Bitcoin holdings for the year and outlined plans to generate approximately $10 billion from its Bitcoin accumulation strategy. While Metaplanet’s holdings are significantly smaller, its rapid expansion signals a growing trend among publicly traded companies embracing Bitcoin as a core asset.