Metaplanet Strengthens Grip on Bitcoin Holdings
In a strategic move, Japanese investment powerhouse Metaplanet has bolstered its Bitcoin portfolio by snagging a further 780 BTC. This acquisition cements its status as the only non-American entity within the elite circle of the highest 10 corporate Bitcoin holders.
Latest Purchase Details
Metaplanet unveiled this recent purchase in an announcement on Monday. With this recent addition, the firm’s cryptocurrency stash now totals 17,132 BTC. The latest batch of Bitcoin was acquired at a mean price of 17,520,454 Japanese yen per coin (roughly $118,145), amounting to around $92 million.
Altogether, Metaplanet has invested a whopping $1.7 billion into Bitcoin, with each coin costing them about $99,640 on average.
Current Market Standing
At the time of writing, data from Nansen indicated that Bitcoin’s market price was hovering around $118,171, just barely above what Metaplanet paid for the most recent batch. Over the past 24 hours, Bitcoin’s value has ticked up by 0.75%.
This development comes on the heels of reports suggesting that Metaplanet plans to leverage its Bitcoin reserves to accumulate cash-generating ventures, potentially including a digital bank in Japan.
Dominance Among Non-US Bitcoin Holders
With this recent acquisition, Metaplanet reinforces its position as the highest non-US Bitcoin treasury. According to BitcoinTreasuries.NET, it stays the one non-American entity in the highest 10 list of corporate Bitcoin treasuries.
Globally, Metaplanet stands because the seventh-largest Bitcoin holder, trailing behind the Trump Media & Technology Group with its 18,430 BTC and ahead of Michael Novogratz’s Galaxy Digital Holdings, which holds 12,830 BTC. However, Metaplanet’s 17,132 BTC pales as compared to the 607,770 BTC held by the world’s leading corporate Bitcoin treasury, Strategy (formerly MicroStrategy), which is valued at over $72 billion.
Metaplanet’s Thriving Journey
Metaplanet’s adventurous Bitcoin strategy has coincided with impressive gains in its stock value. Over the past yr, the corporate’s shares have soared 517%, with a 246% increase year-to-date. As of Monday, shares were trading at $8.36, a 5% rise on the day, in keeping with Google Finance.
In a chat with Forbes Japan, Simon Gerovich, the president and CEO of Metaplanet, expressed surprise on the rapid growth, stating, “In just a year, we became the country’s top-performing stock, with record trading volume and a ¥1 trillion market cap.”
Gerovich emphasized that Metaplanet is not merely copying Strategy but is as an alternative crafting a “Japan-native model” tailored to local regulations, taxation, and capital markets. He noted that the firm offers Bitcoin exposure that aligns with the nation’s tax-free savings account policies.
