Japanese Firm Metaplanet Consolidates Position with Additional $92M Bitcoin Purchase

Metaplanet Bolsters its Bitcoin Assets with a Bold Investment

In recent news that’s making waves within the world of corporate cryptocurrency investment, Metaplanet, an established Japanese investment company has successfully acquired a whopping additional 780 Bitcoin. This bold move significantly strengthens Metaplanet’s prominent as the sole non-US company that figures within the top 10 corporate Bitcoin holders list. Revealing this crucial move in a recent Monday announcement, Metaplanet emphasized their position in the fiercely competitive Bitcoin market.

Details of the Recent Acquisition

Post their recent purchase of Bitcoin, the standing Bitcoin reserves held by Metaplanet have skyrocketed to an impressive total of 17,132 Bitcoins. The average purchase price for this new cache of Bitcoin was stated to be approximately 17,520,454 Japanese yen per coin, translating to around $118,145, thereby amounting to a total expenditure of about $92 million. Consequently, Metaplanet’s total expenditure on Bitcoin reaches an astounding $1.7 billion, with an average cost of $99,640 per coin. As per the recent data disclosed at the time of writing this article, Bitcoin was trading at $118,171, which is marginally higher than Metaplanet’s latest purchase price. In the past 24 hours, the cost of Bitcoin had registered an increase of 0.75%.

Metaplanet’s Future Endeavors

According to some recent reports, Metaplanet’s plans for the future are poised towards using its Bitcoin reserves to invest in and acquire cash-generating businesses. There are prospective possibilities of that including a digital bank in Japan, though no concrete details have emerged so far.

Metaplanet’s Distinct Global Position

With this newest acquisition, Metaplanet has effectively cemented its position as the leading Bitcoin treasury not based out of the United States. As per the data revealed by BitcoinTreasuries.NET, Metaplanet is the only non-US Bitcoin treasury to feature within the top ten largest. At the position of the seventh-largest Bitcoin treasury globally, Metaplanet sizes up to Trump Media & Technology Group, which houses 18,430 Bitcoins through its company, Truth Social. Metaplanet’s current assets of 17,132 Bitcoins also actively compete with Michael Novogratz’s Galaxy Digital Holdings, which owns 12,830 Bitcoins. However, these figures pale in comparison to the world’s leading Bitcoin corporate treasury, Strategy (formerly known as MicroStrategy), holding a mind-boggling 607,770 Bitcoins, that surpasses the worth of over $72 billion.

Effect of the Bitcoin Strategy

Ever since Metaplanet took a leap of faith and began incorporating their bold Bitcoin strategy, it has observed phenomenal gains in its stock price. Over the past year, the shares of the company have surged by 517% and 246% year-to-date. In a recent interview, Simon Gerovich, the President, and CEO of Metaplanet, admitted that such rapid growth exceeded his expectations. Under one year, Metaplanet ascended as the country’s best-performing stock with record trading volume, garnering a 1 trillion market cap. Concluding, Gerovich said that his company did not imitate Strategy’s methods but rather focused on building a local model unique to Japan’s context, that aligned with local regulations, tax laws, and capital markets. He added that the firm offers Bitcoin exposure that scrupulously adheres to the nation’s tax-free savings account laws.