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Japanese investment firm Metaplanet Inc. announced today that it has made an additional purchase of 107 Bitcoin, valued at approximately 1 billion yen ($6.9 million), highlighting the company’s bullish stance on the leading cryptocurrency.
Metaplanet Increases Bitcoin Holdings
The firm, listed on the Tokyo Stock Exchange, revealed that it acquired the Bitcoin at an average price of 9.26 million yen ($64,168) per coin. This latest purchase brings Metaplanet’s total Bitcoin holdings to 506 BTC, valued at around $32.2 million at current prices. According to their statement, Metaplanet has invested a total of 4.75 billion yen in Bitcoin, at an average price of 9.37 million yen ($64,931) per coin.
During the announcement, Bitcoin was trading around $62,800, following a 1.27% drop after reaching above $66,000 last week.
Stock and Market Reactions
Following this news, Metaplanet’s shares reacted positively, rising by 4.24% in Tuesday’s afternoon session on the Tokyo Stock Exchange, trading at around 1,033 yen. The broader Nikkei 225 index also saw gains, rising by 1.91%.
Since May, when the company declared Bitcoin as a strategic treasury reserve asset, Metaplanet has been actively increasing its Bitcoin holdings. This move reflects a growing trend among companies holding significant amounts of Bitcoin on their balance sheets.
Global Bitcoin Holdings by Institutions
According to BitcoinTreasuries, MicroStrategy, led by Michael Saylor, remains the largest institutional holder of Bitcoin globally, with 252,220 BTC, followed by Marathon Digital with 26,200 BTC.
With Metaplanet continuing its aggressive Bitcoin strategy, the trend of companies investing in Bitcoin as a long-term reserve asset is gaining traction.
