Tokyo, Japan, Thursday, October 10, 2024 – Japanese investment firm Metaplanet Inc. has acquired an additional 107.913 BTC, valued at approximately 1 billion yen ($6.9 million), bringing its total Bitcoin holdings to 506.745 BTC. Based on current market prices, these holdings are worth roughly $32.2 million.1
The latest purchase was made at an average price of 9.26 million yen per BTC ($64,168). This move is part of the firm’s strategy to increase its Bitcoin reserves, with its total investment now standing at 4.75 billion yen ($31.9 million).
Following this announcement, Metaplanet’s stock price saw a 2.12% increase, trading at 1,012 yen on the Tokyo Stock Exchange.
Metaplanet began its Bitcoin purchasing strategy in May, responding to inflation concerns and economic instability post-pandemic. The firm has steadily increased its holdings, with several large acquisitions throughout the year, and has secured a $6.8 million loan to support this strategy.
The firm’s investment approach mirrors that of U.S.-based MicroStrategy, which holds 252,220 BTC. Metaplanet has also partnered with SBI Holdings’ crypto division to improve its Bitcoin infrastructure and is exploring the possibility of tokenizing its shares on Bitcoin’s layer-2 network, Liquid.
