This week, Metaplanet has strengthened its position in the Asian Bitcoin market through two significant developments: the confirmation of Eric Trump as its sole partner in Asia and the increase of its Bitcoin holdings.
Eric's Confirmation
Eric Trump spoke in Tokyo earlier this month, confirming that Metaplanet is his only Asian partner. His statement followed community speculation about the nature of his advisory role that began in March. Trump has been increasing his presence in Asia's crypto space, attending Metaplanet's shareholders' meeting and the Bitcoin Asia conference in Hong Kong.
By naming Metaplanet as his sole Asian partner, Trump signaled long-term support for the Japanese treasury firm. This endorsement also brings political weight as Metaplanet attempts to broaden its presence across borders.
New Bitcoin Purchase
Alongside Eric's confirmation, Metaplanet disclosed another significant Bitcoin acquisition. On September 8, the firm announced it had purchased 136 bitcoins, costing approximately $15.2 million at an average price of $111,666 per bitcoin.
This brings Metaplanet's total holdings to 20,136 bitcoins. The company acquired these for an average price of $103,196 per bitcoin, spending about $2.08 billion. The latest move aligns with CEO Simon Gerovich's long-term goal of building one of the world's largest corporate Bitcoin treasuries.
Market Impact and Expansion Plans
Despite steady Bitcoin purchases, Metaplanet's stock performance has been volatile. On Monday, shares fell 1.2% in Japan during midday trading, while U.S.-traded shares closed 1.6% lower on Friday. The stock has declined 30% in the past month but is up 101% year-to-date.
Earlier this summer, the company announced plans to raise $880 million through a public share offering in overseas markets. However, recent share declines have added pressure to that strategy. Despite short-term stock declines, Metaplanet continues to increase its Bitcoin reserves steadily, signaling a firm commitment to long-term accumulation.
By gathering support from Eric Trump and setting aggressive acquisition targets, Metaplanet is reinforcing its identity as a key player in Asia's Bitcoin market.
