Japan-based Metaplanet Increases BTC Holdings to 225.6 BTC, Becoming the 21st Largest Public Holder of the Cryptocurrency

Japan-based Metaplanet said it has acquired additional Bitcoin, according to a July 16 statement. The firm announced that it purchased 21.88 BTC, worth ¥200 million (equivalent to $1.26 million) at an average price of ¥9 million ($57,701) per coin.

Japan-based Metaplanet announced the acquisition of 21.88 BTC, bringing its total Bitcoin holdings to 225.6 BTC.

The firm disclosed that the recent purchase was made at an average price of ¥9 million ($57,701) per coin, for a total of ¥200 million ($1.26 million).

Metaplanet stated that this acquisition is part of its previously announced plan to allocate ¥1 billion in Bitcoin as a treasury reserve asset.

The company also highlighted its intention to enhance Bitcoin management and expand into new regions, following the establishment of a subsidiary, Metaplanet Capital Limited, in the British Virgin Islands.

According to Google Finance data, Metaplanet’s stock price surged about 10% following the latest purchase, trading at ¥102 as of press time. Notably, the company stock has experienced a remarkable year-to-date increase of 537%.

While Metaplanet did not specify the exact purchase date, the price suggests that the acquisition likely occurred over the past week, during which Bitcoin traded below $60,000. This timing aligns with the firm's strategy to capitalize on recent price weakness to increase its BTC holdings.

With this new purchase, Metaplant now ranks as the 21st largest public holder of Bitcoin, based on data from CoinGecko. This positions the company behind more storied institutions like MicroStrategy, Tesla and others.

Furthermore, Metaplanet's disclosure reveals that its Bitcoin holdings are valued at ¥2.25 billion ($13.8 million), with each Bitcoin priced at around ¥9.9 million ($62,900). Considering Bitcoin is trading at around $63,257 as of press time, the firm enjoys an unrealized profit of approximately $357 per BTC, totaling around $80,500.

Meanwhile, market observers have highlighted that Metaplanet's acquisition reflects a growing institutional interest in Bitcoin as a strategic treasury asset. Over the past months, several small companies like DeFi Technologies and Semler Scientific have invested in BTC, attracting substantial interest to their firms.

Mentioned in this article

Oluwapelumi Adejumo

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

Liam 'Akiba' Wright

Also known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

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