Tokyo-based investment firm Metaplanet has stepped up its Bitcoin buying strategy by purchasing $13.4 million worth of BTC as part of its long-term bullish outlook for the cryptocurrency.
Metaplanet Adds $13.4 Million to Bitcoin, Brings Its Holdings to 2,391 BTC
In the latest acquisition, announced by Metaplanet CEO Mark X on Monday on X (formerly Twitter), the firm purchased 156 BTC for 2 billion yen (about $13.4 million) at an average price of $85,890 per Bitcoin.
This brings the company's total assets to 2,391 BTC worth $196.3 million and an average purchase price of $82,100 per Bitcoin.
Metaplanet has been on a Bitcoin buying spree since it announced its strategy to buy Bitcoin in April 2024. The firm has since solidified its commitment to digital assets by designating Bitcoin treasury operations as a core business.
Last week, Metaplanet announced a purchase of 135 BTC, and the firm set ambitious goals of accumulating 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
Stock Price Rises Amid Crypto Rally
Following the announcement, Metaplanet’s shares rose 21.15% to close at 4,010 yen on Monday, riding a wave of a broader crypto market rally. Japan’s Nikkei 225 index also gained 1.7% on the day.
As institutional interest in Bitcoin continues to grow, Metaplanet's aggressive accumulation strategy signals growing confidence in the cryptocurrency as a long-term store of value and investment asset.
*This is not investment advice.
