Japanese Investment Firm Metaplanet Inc. Increases Its Bitcoin Reserves, Now Holds 639.503 BTC

Japanese investment firm Metaplanet Inc. has again increased its Bitcoin reserves, purchasing an additional 108.786 BTC for $6.7 million (1 billion yen).

Japanese investment firm Metaplanet Inc. (TYO:9428) has once again increased its Bitcoin (CRYPTO: BTC) reserves, purchasing an additional 108.786 BTC for 1 billion yen ($6.7 million).

The Tokyo-listed company announced the acquisition on October 7th, bringing its total Bitcoin holdings to 639.503 BTC, currently valued at approximately $40.6 million based on the prevailing market rates.

Metaplanet’s latest purchase further demonstrates the company's confidence in Bitcoin as a crucial component of its strategic treasury reserve asset plan. The firm disclosed that it acquired the newly purchased Bitcoin at an average price of 9.19 million yen ($61,880) per BTC. Moreover, the total average price for all of its Bitcoin purchases to date is 9.32 million yen ($62,789) per Bitcoin.

This move follows Metaplanet's earlier announcement in May that it had begun adopting Bitcoin as a core part of its treasury strategy.

Boosting Holdings with Bitcoin OptionsMetaplanet has been actively increasing its Bitcoin holdings in recent months, making a similar purchase last week when it acquired 107.913 BTC for 1 billion yen ($6.7 million). The firm has also employed an innovative strategy to further boost its crypto assets.

Last week, Metaplant reported earning 23.972 BTC, approximately $1.52 million, by selling Bitcoin options and collecting premiums. This strategy has enabled the company to enhance its market position while maintaining a long-term perspective on Bitcoin's growth potential.

Metaplanet's stock reacted positively to the latest Bitcoin purchase, surging 11% to 1,017 yen in Monday's trading session. The broader market was also up, with the Nikkei 225 index climbing 2.2% as of the afternoon session.

Rising Among Corporate Bitcoin HoldersWhile Metaplanet continues its aggressive accumulation of Bitcoin, it still trails behind corporate giants like Michael Saylor's MicroStrategy (NASDAQ:MSTR), which holds the largest corporate Bitcoin stash with 252,220 BTC. Marathon Digital (NASDAQ:MARA) follows with 26,842 BTC.

However, Metaplanet's increasing dedication to Bitcoin highlights a broader trend among institutions, with more companies adopting the digital asset as part of their financial strategy.

Bitcoin's price showed a 2.84% increase over the past 24 hours, trading at $63,594 at the time of this report, recovering from a dip below $60,000 last week.

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