Japanese investment firm Metaplanet has made a significant Bitcoin purchase amid rising prices, highlighting the growing interest of institutional investors in cryptocurrencies.
Details of the BTC Purchase
Metaplanet purchased 797 bitcoins at an average price of $117,451, amounting to nearly $94 million. Following this transaction, the company's total Bitcoin holdings reached 16,352 BTC, with a total investment value of $1.64 billion.
Company Strategy and Future Plans
Metaplanet drew attention by exiting the hotel management business and shifting focus to a Bitcoin-centric treasury strategy. Last month, it announced a goal of holding 210,000 BTC by the end of 2027. CEO Simon Gerovich mentioned plans to acquire businesses that leverage BTC collateral for cash generation.
Market Reaction and Investor Sentiment
Metaplanet's revenue rose to 1.1 billion yen ($7.6 million) in the second quarter, a 42.4% increase compared to last year. The company's shares rose 1% to 1,580 yen ($10.7) in Tokyo, reflecting ongoing institutional interest in Bitcoin.
Metaplanet's Bitcoin purchase demonstrates the increasing interest of institutional investors in cryptocurrencies and shows how companies are positioning Bitcoin as a strategic asset on their balance sheets.
