Japanese investment firm Metaplanet has made headlines as the first public company to take advantage of Bitcoin’s recent dip, acquiring 463 BTC valued at approximately $53.7 million.
Metaplanet's Bitcoin Acquisition
On Monday, Metaplanet purchased 463 Bitcoin for 8 billion yen, roughly $53.7 million. The average purchase price was around $115,895 per BTC. Following this acquisition, the company's total Bitcoin holdings rose to 17,595 BTC, valued at over $2 billion, solidifying its position as the seventh-largest corporate Bitcoin holder.
Accumulation Strategy for Bitcoin
Led by CEO Simon Gerovich, Metaplanet aims to accumulate 210,000 BTC—equivalent to 1% of Bitcoin’s maximum supply—by the end of 2027. With this latest purchase, the firm is approximately 8.4% of the way towards its goal. To support this accumulation, Metaplanet follows a model popularized by MicroStrategy founder Michael Saylor, announcing plans to issue approximately $3.73 billion in perpetual preferred shares.
Increasing Interest in Bitcoin Among Corporations
The number of public companies holding Bitcoin has increased from 112 in May to 162 today. Metaplanet is behind six other corporate giants, including MicroStrategy and Marathon Digital. This rising interest indicates that more institutions are embracing Bitcoin as a treasury reserve asset.
Metaplanet's recent actions highlight the ongoing trend among corporate investors to accumulate Bitcoin, despite market volatility and economic uncertainty.
