Tokyo-based investment firm Metaplanet deepens its commitment to Bitcoin by purchasing an additional 160 BTC for $13.3 million, just one day after its largest purchase to date.
Details of the New Purchase
The company, listed on the Tokyo Stock Exchange, announced today that it purchased BTCs at an average price of $83,264 per coin, bringing its total assets to approximately 4,206 BTC worth around $359.8 million at the time of the purchase.
Bitcoin Accumulation Strategy
Since announcing its Bitcoin accumulation strategy in April 2024, Metaplanet has rapidly expanded its holdings and is now the ninth-largest public institutional Bitcoin holder worldwide and the largest in Asia.
Financial Performance and Company Goals
The company has set an ambitious target of 10,000 BTC by the end of 2025 and aims to double that to 21,000 BTC by the end of 2026. Despite the aggressive Bitcoin accumulation, Metaplanet's shares fell 0.98% in morning trading on Wednesday, while Japan's Nikkei 225 index was flat.
Metaplanet continues its aggressive Bitcoin accumulation strategy despite temporary stock market fluctuations.
