Tokyo-listed Metaplanet announced the acquisition of an additional 135 Bitcoin worth $12.9 million, increasing their total holdings to 2,235 BTC.
Purchase Details and Terms
Metaplanet purchased the Bitcoin at an average price of 14.3 million yen ($95,951) per Bitcoin. The total value of the purchase amounted to 1.9 billion yen. This acquisition aligns with the company's strategy of cryptocurrency accumulation announced in April.
Metaplanet's Strategy and Goals
The company officially designated Bitcoin as a key part of its corporate strategy, with plans to reach 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026. Last year, the company held 1,761 BTC, with further acquisitions taking place throughout 2024.
Market Reaction and Context
Despite significant investments in Bitcoin, Metaplanet's stock saw a minor decline of 1.3% during the Tuesday lunch break in Japan. However, in the long term, the company's stock has strengthened significantly, showing a growth of 67.5% since the beginning of 2024. A similar strategy is seen among other Asian investment firms, such as HK Asia Holdings Limited, which recently expanded their Bitcoin holdings to 8.88 BTC.
Metaplanet's long-term strategy of Bitcoin accumulation matches the growing institutional interest in cryptocurrencies. As the popularity of Bitcoin among Asian corporations rises, the importance of these investments increases.
