Metaplanet has added another 160 bitcoin to its balance sheet, marking its second major purchase in as many days. The Tokyo-listed investment firm disclosed the acquisition on Wednesday, valued at $13.3 million. The average purchase price was $83,264 per bitcoin.
This latest purchase comes one day after the firm announced the acquisition of 696 BTC, its largest single-day buy to date. The two-day buying spree brings Metaplanet’s total holdings to 4,206 BTC.
According to CEO Simon Gerovich, the firm has acquired the total stash at a cumulative cost of approximately $359.8 million. Based on current market prices, that bitcoin is now worth around $356.2 million.
Bitcoin Strategy Drives Accumulation
Metaplanet began aggressively accumulating bitcoin in April 2024 after formally announcing a strategic shift. The company is now the ninth-largest publicly traded corporate holder of bitcoin globally. It also holds the distinction of being the largest in Asia, according to BitcoinTreasuries.net.
The firm has laid out clear targets for further expansion. It aims to hold 10,000 BTC by the end of 2025 and double that amount to 21,000 BTC by the close of 2026.
Despite the latest purchase, Metaplanet’s stock fell 0.98% during the morning session in Japan on Wednesday. The broader Nikkei 225 index showed no movement over the same period, according to Google Finance data.
Market Snapshot and Valuations
Bitcoin rose 1.6% in the past 24 hours to trade at $84,526, according to The Block’s price page. The Block’s GMCI 30 index, which tracks the performance of the top 30 cryptocurrencies, gained 0.7%.
Metaplanet’s bitcoin purchase occurred at a price slightly below the prevailing market rate. The firm’s average acquisition price for the latest 160 BTC was $83,264, about 1.5% lower than the current trading price.
At time of publication, Metaplanet holds more than $354 million in bitcoin. The company’s holdings now represent a significant commitment to cryptocurrency as a core asset class within its investment strategy.
