The Japanese investment firm Metaplanet has expanded its Bitcoin stash by adding 135 BTC, strengthening its market position.
Metaplanet's Bitcoin Purchase
On February 25, Metaplanet announced purchasing an additional 135 bitcoins at around $96,000 each. This acquisition increased the company's total holdings to 2,235 BTC, valued at approximately $205 million, making Metaplanet the fifteenth-largest corporate BTC holder globally, just behind Voyager Digital.
Company Strategy and Results
Metaplanet has been aggressively increasing its BTC holdings through equity and debt financing. Earlier this year, the firm issued 21 million new shares and raised 4 billion yen through bonds. Despite a 3,400% increase in its shares over the past year, they fell by 4% on the day it purchased 135 BTC amid a general crypto market downturn. Several countries, including El Salvador, continue to purchase Bitcoins alongside Metaplanet.
Impact of Trade Tariffs on the Market
Metaplanet's Bitcoin accumulation occurred before a significant market downturn, with cryptocurrencies dropping by 13%. The market reaction was influenced by President Donald Trump's announcement of planned trade tariffs. Such events have already caused similar downturns earlier this month.
Metaplanet's actions highlight the continued interest of major investors in Bitcoin despite market volatility. Global trade policies, particularly those involving tariffs, continue to significantly impact the cryptocurrency market.
