Japanese investment company Metaplanet purchased an additional 780 Bitcoin, strengthening its position as the only non-US company out of the top 10 corporate Bitcoin holders.
The company disclosed the acquisition in an announcement Monday. Following the latest Bitcoin (BTC) purchase, Metaplanet holdings totaled 17,132 BTC, with an average purchase price of 17,520,454 yen (approximately $118,145) of the newly added Bitcoin was around $92 million.
Metaplanet spent a total of $1.7 billion on Bitcoin, costing an average of $99,640 per coin.
At the time of writing, Nansen’s data showed that Bitcoin was traded at $118,171, just above Metaplanet’s latest purchase price. Over the past 24 hours, Bitcoin costs have increased by 0.75%.
The news follows a recent report that Metaplanet is planning to eventually use Bitcoin Reserve to acquire cash-generating companies, including perhaps Japanese digital banks.
Related: Metaplanet vs. Strategy: Key Differences in Approach to Bitcoin Holdings
Metaplanet will merge as the top non-US Bitcoin Treasury Ministry
With this latest acquisition, Metaplanet has solidified its position as a major US-based Bitcoin Treasury Department. According to data from bitcointreasuries.net, the company is the only non-US Bitcoin Treasury of the largest 10 people.
Metaplanet is the world’s seventh largest Bitcoin Treasury Ministry, behind Trump Media & Technology Group (the company behind Truth Social) at 18,430 BTC, and surpasses Michael Novogratz’s Galaxy Digital Holdings at 12,830 BTC. Still, Metaplanet’s current 17,132 BTC is far from the world’s first top Bitcoin corporate financial strategy (formerly MicroStratege), with 607,770 BTC worth over $72 billion.
Related: Metaplanet surpasses CleanSpark with $108 million Bitcoin purchases
Metaplanet Success Story
Metaplanet’s bold Bitcoin strategy coincides with the stock’s significant profits. The company’s shares have increased by 517% over the past year and 246% since the start of the year. As of Monday, the stock had risen 5% at $8.36, according to Google Finance.
In a recent interview with Forbes Japan, Metaplanet president and CEO Simon Gerovich said he does not expect such rapid growth.
“In just a year, we have become the country’s highest shares with record trading volumes and a market capitalization of 1 trillion yen,” he said.
Gerovic also emphasizes that the company is not merely mimicking its strategy, but rather “building a “native Japanese model” tailored to local regulations, taxation and capital markets.” He added that the company offers Bitcoin exposure compliant with the country’s tax-free savings account.
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