Tokyo-based investment firm Metaplanet has made headlines again by acquiring an additional ¥1 billion (approximately $6.9 million) worth of Bitcoin, bringing its total holdings to 506.745 BTC, valued at around $32 million at current market prices. This latest purchase underscores Metaplanet’s commitment to Bitcoin as a strategic asset amid ongoing economic challenges in Japan.
Metaplanet’s recent acquisition involved 107.913 BTC, purchased at an average price of ¥9.26 million per Bitcoin. This follows a series of significant investments in the cryptocurrency, including a ¥300 million purchase last month. The firm has consistently added to its Bitcoin reserves since it adopted this strategy in May, reflecting a growing trend among institutional investors to view Bitcoin as a hedge against inflation and currency devaluation.
Metaplanet’s approach mirrors that of U.S.-based MicroStrategy, which has become well-known for its substantial Bitcoin holdings. The firm aims to leverage Bitcoin as part of its treasury reserve strategy, responding to Japan’s economic uncertainties and the potential for favorable tax treatment for domestic investors. The company’s cumulative investment in Bitcoin now totals approximately ¥4.75 billion ($31.9 million), with an average acquisition cost of ¥9.37 million per BTC.
Following the announcement of this latest purchase, Metaplanet’s stock experienced a notable increase of about 2.12%, trading at 1,012 yen on the Tokyo Stock Exchange. The firm’s stock has surged approximately 495% year-to-date, largely attributed to its proactive Bitcoin acquisition strategy.
In September, Metaplanet formed a partnership with SBI Group’s crypto investment arm to enhance its trading and custody services for Bitcoin. This collaboration focuses on compliant corporate custody and tax efficiency, positioning Metaplanet to better manage its growing cryptocurrency portfolio.
Additionally, the company is exploring innovative strategies such as tokenizing its shares on the Bitcoin layer-2 network, Liquid, which could further integrate its operations within the cryptocurrency ecosystem.
Metaplanet’s latest investment reinforces its status as a key player in Japan’s cryptocurrency market and reflects a broader trend of institutional adoption of digital assets.
