Japanese investment firm Metaplanet (3350.T) has increased its Bitcoin assets by purchasing an additional 1,234 BTC, strengthening its position in the cryptocurrency market.
Metaplanet's Bitcoin Purchases
According to a Thursday announcement, Metaplanet's total holdings now stand at 12,345 Bitcoins, roughly equivalent to $1.3 billion at current prices. The company initially involved in hospitality made its first venture into Bitcoin investment last April with an initial purchase of approximately $6.5 million.
Company Strategy and Future Plans
Metaplanet is targeting 21,000 BTC by the end of 2026 and intends to reach 210,000 BTC by the end of 2027, which would represent 1% of the total Bitcoin supply. The company previously announced plans to raise $5 billion to fund its Bitcoin purchases through the issuance of equity warrants by its Florida-based subsidiary.
Comparison with Other Market Players
Currently, Metaplanet is the seventh-largest corporate holder of Bitcoin, surpassing companies like Tesla and Hut 8. Notably, Metaplanet is the only Asian company in the top 10 of corporate Bitcoin holders.
Metaplanet's active investment in Bitcoin highlights the growing interest in cryptocurrencies among major players and suggests that the company will continue to strengthen its position in this rapidly evolving market.
