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Metaplanet’s latest Bitcoin purchase makes it the second-largest corporate Bitcoin holder in Asia behind Boyaa Interactive International, which holds 1,100 BTC.
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Japanese investment firm Metaplanet has achieved a new milestone with its latest Bitcoin purchase, as its holdings surpassed 1,000 BTC, worth about $68 million.
On Oct. 28, Metaplanet said it acquired another 156.78 Bitcoin (BTC). This raised its total Bitcoin holdings to 1,018.17 BTC. The company’s latest investment puts its average purchase price at about $61,629 or 9.4 million Japanese yen per Bitcoin.
Simon Gerovich, the CEO of Metaplanet, celebrated the company’s latest Bitcoin milestone on X. Gerovich wrote:
“Metaplanet_JP now owns more than 1000 BTC, making it one of the largest corporate holders of Bitcoin in Asia.”
When asked by a community member if the company would keep buying BTC, the Metaplanet executive replied with “always and forever,” hinting at future Bitcoin purchases.
Asia’s second-largest Bitcoin holder
With Metaplanet’s latest Bitcoin purchase, the company has become Asia’s second-largest corporate Bitcoin holder. According to Bitcoin data tracker BitcoinTreasuries, Metaplanet is now the 19th-largest corporate Bitcoin holder in the world.
Largest corporate Bitcoin holders across the globe. Source: BitcoinTreasuries
Despite reports saying that Metaplanet had become Asia’s largest corporate Bitcoin holder, BitcoinTreasuries data shows that the company still lags behind a Chinese firm called Boyaa Interactive International, which holds 1,100 BTC it purchased in January.
After Metaplanet comes a Hong Kong-based company called Meitu, which holds 940.9 BTC, worth about $64 million.
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Bitcoin as a strategic treasury reserve asset
Metaplanet revised its treasury management strategy in May, adopting Bitcoin as its treasury reserve asset. The firm said this was a “direct response to sustained economic pressures in Japan.” Because of this, it would prioritize a “Bitcoin-first, Bitcoin-only” approach for the company.
Metaplanet’s stock price chart in the last year. Source: Google Finance
Since its first Bitcoin purchase, the company’s shares have performed well after disclosing additional investments in Bitcoin. On Oct. 15, Metaplanet shares jumped by 16% after purchasing 107 BTC.
The company’s shares currently trades at 1,150 JPY, about $7.5. Google Finance data showed that the stock increased by 505.26% in 2024.
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This article first appeared at Cointelegraph.com News
