Tokyo-based Metaplanet Inc. continues to grow its Bitcoin investments, acquiring an additional 1,234 BTC.
Details of the Latest Purchase
On June 26, Metaplanet disclosed the purchase of 1,234 BTC worth approximately $133 million, bringing its total assets to 12,345 BTC.
Bitcoin Accumulation Strategy
Previously a hotel management company, Metaplanet shifted its business model to focus on Bitcoin accumulation starting in 2024. The company aims to hold 30,000 BTC by the end of 2025, 100,000 BTC by 2026, and ultimately 210,000 BTC by 2027, representing 1% of Bitcoin's total supply.
Market Reaction and Financial Performance
In response to its growing Bitcoin holdings, Metaplanet's stock has surged over 300% this year. As of now, Bitcoin trades slightly above $107,800, posting a 1.3% gain in the last 24 hours.
Metaplanet's active investment strategy in Bitcoin appears to be paying off, as its significant asset purchases place the company among the leading corporate Bitcoin holders.
