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Metaplanet Tops Bitcoin Holdings With Additional $13.4M Purchase

Metaplanet has increased its total Bitcoin stash to 2,391 BTC following its latest purchase.

Strategy

Tokyo-based investment firm Metaplanet has reinforced its commitment to increasing its Bitcoin stash. Earlier today, the firm acquired 156 BTC for $13.4 million at an average price of 85,890 per bitcoin.

The latest purchase comes less than a week after the company purchased 135 BTC for $13 million. As of March 3, the investment firm holds a total of 2,391 BTC acquired for approximately $196.3 million at an average price of 82,100 per bitcoin.

Bullish on Bitcoin 

The bearish sentiment engulfing the crypto market last week did not discourage Metaplanet as the firm capitalized on the period to boost its stash. According to the firm, the 156 BTC bought came at an average price of $85,890 per bitcoin. Moreover, the investment firm has attained a BTC yield of 31.8% from the start of the year to date.

Following in the footsteps of Strategy (formerly known as MicroStrategy), Metaplanet and other firms have adopted the Bitcoin reserve strategy. 

Since adopting Bitcoin in April 2024 as its primary reserve asset to protect itself against economic struggles like the falling Japanese yen, Metaplanet has consistently boosted its Bitcoin stash with several large acquisitions. Earlier this year, the company revealed its ambitious plan to accumulate 21,000 BTC valued at $2 billion by 2026. 

According to data from Bitcoin Treasuries, Metaplanet is currently the 14th largest publicly traded company holding Bitcoin. At the time of writing, BTC was changing hands for $93,973, representing an 8.86% increase in 24 hours.

Metaplanet Explores Potential U.S. Listing

In an X post, Metaplanet’s CEO Simon Gerovich disclosed that the firm has been formally invited by the New York Stock Exchange (NYSE) and Nasdaq (Nasdaq) to introduce their platforms and functions.

“We are considering the best way to make Metaplanet shares more accessible to investors around the world. Metaplanet aims to build a company that Japan can be proud of, not just achieve short-term results. As pioneers in adopting the Bitcoin standard, we will prove that Japanese companies can be at the forefront of financial innovation and long-term value creation. This is just the beginning”, he stated. 

Faith

Faith is a dedicated content writer who is focused on expanding her interest and knowledge about cryptocurrencies and blockchain technology. In her free time, she enjoys listening to music, reading, and traveling.