Metaplanet Expands Bitcoin Holdings with New $2 Million Purchase
Japanese investment firm Metaplanet has once again increased its Bitcoin holdings, buying an additional ¥300 million (approximately $2 million) worth of Bitcoin. This acquisition, disclosed on September 10, involved 38.464 BTC at an average price of ¥7.8 million ($54,517) each. With this latest purchase, Metaplanet’s total Bitcoin reserves now stand at 398.832 BTC.
Dylan LeClair, Metaplanet’sDirector of Bitcoin Strategy, highlighted the firm’s proactive stance in a tweet: “Thankful for this price action. Have some capital to deploy,” referencing Bitcoin’s recent price drop below $54,000.
Metaplanet’s recent purchase is part of its ongoing strategy to accumulate Bitcoin, a trend that has been evident since the firm first pivoted to a Bitcoin-centric investment approach in April 2024. This strategy has had a noticeable impact on the firm’s stock. Following the announcement of the latest acquisition, Metaplanet’s shares increased by 5.87%, reaching ¥1,101. However, the stock has fluctuated, having previously hit a high of ¥3,000 earlier this year.
To date, Metaplanet has invested ¥3.75 billion ($27.6 million) in Bitcoin, with its holdings currently valued at approximately $22.8 million based on the current price of Bitcoin. Earlier this year, the firm completed a notable purchase of ¥500 million ($3.4 million) in Bitcoin and secured a ¥1 billion ($6.8 million) loan to further expand its reserves.
Mirroring Global Strategies
Metaplanet’s aggressive Bitcoin acquisition strategy reflects a broader trend among public companies. The firm’s approach is akin to that of MicroStrategy, a U.S.-based software company renowned for its substantial Bitcoin holdings under Michael Saylor’s leadership. Like MicroStrategy, Metaplanet has employed a combination of bond sales and stock rights offerings to finance its Bitcoin purchases.
In addition, Metaplanet has recently partnered with SBI VC Trade, the cryptocurrency division of SBI Group. This collaboration is set to enhance Metaplanet’s Bitcoin custody and operational support, further bolstering its ongoing acquisition efforts.
Looking Ahead
Metaplanet’s commitment to expanding its Bitcoin reserves aligns with a growing trend of companies leveraging Bitcoin’s appreciation potential. Similar strategies are being adopted by other firms, such as Marathon Digital Holdings and Semler Scientific, which are also increasing their Bitcoin exposure without liquidating existing assets.
Metaplanet’s consistent Bitcoin purchases underscore a strategic confidence in the cryptocurrency’s long-term value and its role as a key asset in corporate treasury management.
Conclusion
Metaplanet’s latest Bitcoin acquisition continues its pattern of frequent purchases, reinforcing its position in the cryptocurrency market. The firm’s ongoing strategy, coupled with its new partnership with SBI VC Trade, positions it as a significant player in Bitcoin investment, reflecting broader trends in the corporate financial landscape.
