Metaplanet, a Japanese investment firm, has recently increased its Bitcoin holdings by acquiring an additional 497 BTC for $43.9 million, bringing its total Bitcoin holdings to 2,888 BTC. This acquisition was made at an average price of $88,448 per Bitcoin, and the total amount spent on these holdings now sits at around $240.2 million. These Bitcoin holdings have appreciated in value, now worth $251 million, resulting in paper profits for the firm.
This move follows another purchase of 156 BTC earlier in the week for $13.4 million. Since announcing its Bitcoin acquisition strategy in April 2024 and making it a core business line in December, Metaplanet has been steadily increasing its Bitcoin reserves. The company has set ambitious targets, aiming to accumulate 10,000 BTC by the end of 2025 and 21,000 BTC by 2026.
On the day of the announcement, Metaplanet’s stock surged by 17%, outperforming the broader Nikkei 225 index, which gained 0.55%. At the same time, Bitcoin’s price also saw a 4% increase, trading at
$86,943.
