Metaplanet bought 103 Bitcoins for $11.6 million, raising its total holdings to 18,991 Bitcoins, worth nearly $1.95 billion.
The company is now the seventh largest public holder of Bitcoin, with returns of nearly 480%, significantly surpassing stock market gains.
Analysts believe Metaplanet may buy Bitcoin regularly, while Eric Trump predicted that the price of Bitcoin could reach $175,000 by the end of the year.
Japanese company Metaplanet purchased 103 Bitcoins for $11.6 million, raising its total holdings to 18,991 Bitcoins. This purchase came after Michael Saylor, Head of Strategy, posted on platform X that 'Bitcoin is for sale,' hinting at more purchases. Metaplanet's stock jumped by more than 4% to 878 yen after this news, while the price of Bitcoin stabilized around $112,000.
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A big Bitcoin bet pays off
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A purchase was made by Metaplanet at an average price of $113,491 per Bitcoin, raising its total inventory to about $1.95 billion, with an average cost of $102,712 per coin. This follows recent moves by Strategy, including the purchase of 430 Bitcoins worth $51.4 million, raising its holdings to 629,376 Bitcoins, nearly 3% of the total available Bitcoin value.
Metaplanet now ranks seventh among the largest public holders of Bitcoin, behind Riot Platforms and Peter Thiel's Bullish, according to Bitcoin Treasuries data. The company's investments in Bitcoin have yielded a return of 479.5%, surpassing the stock market.
Metaplanet's shares rose by more than 4% to reach 878 yen, reflecting investor confidence in the company's Bitcoin-related strategy. On the other hand, Bitcoin remained mostly stable, trading near $112,000 after briefly dropping to $110,000 over the weekend.
In Japan, where the yen is weakening, Metaplanet sees Bitcoin as a shield against economic uncertainty. Metaplanet's Bitcoin strategy has been remarkably successful, achieving a gain of 95.6% in the first quarter of 2025, 29.1% from July to late August, and 129.4% in the second quarter.
Some analysts believe the company may add Bitcoin weekly, inspired by Michael Saylor's approach. Adding to the corporate focus on Bitcoin purchases, Eric Trump described himself as a 'Bitcoin adventurer' and predicted that its price would reach $175,000 by the end of the year.