Japanese Investment Company Metaplanet Continues Bitcoin Purchases! Critical Level Exceeded in Reserves! Here Are the Details

Tokyo-listed investment firm Metaplanet Inc. has bolstered its Bitcoin reserves by surpassing the 1,000 BTC mark following a $10.4 million purchase.

Japan’s Metaplanet Surpasses 1,000 BTC in Assets with Latest $10 Million Investment

The company confirmed that it purchased 156.78 BTC at an average price of ¥10.2 million ($66,436) per bitcoin as part of its ongoing accumulation strategy.

The latest purchase brings Metaplanet’s total Bitcoin holdings to 1,018.17 BTC, worth approximately $68.8 million.

This milestone makes Metaplanet “one of the largest institutional Bitcoin holders in Asia,” CEO Simon Gerovich announced on X. Bitcoin as a Treasury Reserve Asset Metaplanet’s latest buying spree comes after the firm announced that it will adopt Bitcoin as a strategic treasury reserve asset in May 2024. Since then, the company has steadily increased its holdings:

• 141.07 BTC as of June 30
• 398.83 BTC as of September 30
• As of today, 1,018.17 BTC

While tying acquisitions to capital markets activities and operating revenues, Gerovich emphasized the strategy’s role in long-term asset diversification. Capital Raising Efforts Last week, Metaplanet raised ¥10 billion ($66 million) through its 11th scheduled stock acquisition rights offering. The offering included 13,774 shareholders who were able to purchase shares at a discounted price. The funds from these activities contributed to Metaplanet’s expanding Bitcoin holdings.

However, the company clarified that owning shares does not give investors a direct interest in the firm’s bitcoin reserves. Metaplanet also noted that it has not paid dividends on its common stock in the past.

Following the announcement, Metaplanet’s shares continued their upward trend, rising 5.9% to ¥1,137 in afternoon trading on Monday.

The stock has gained 14.7% in the past month, bringing its year-to-date gain to 610%, significantly outperforming the Nikkei 225 index, which is currently up 2.07%.

*This is not investment advice.