Japanese Metaplanet increases its Bitcoin holdings to 8,888 coins
▪️Investment company Metaplanet, nicknamed the “Japanese MicroStrategy,” has announced the purchase of 1,088 bitcoins worth around $117 million. The average purchase price was $108,072 per BTC. The company’s total reserves have now reached 8,888 BTC, with cumulative investments of approximately $851 million.
▪️Metaplanet’s stock (ticker 3350) has surged about 5,000% over the past year but still remains significantly below its 2013 peak, after which it experienced a prolonged downtrend until adopting its Bitcoin accumulation strategy.
▪️In January, Metaplanet announced plans to raise 116 billion yen (about $745.5 million) to accelerate Bitcoin purchases, citing a weakening yen and Bitcoin’s rise to a new all-time high. At the time, the company emphasized its intent to buy crypto “as quickly as possible” given the economic conditions.
