#MetaplanetBTCPurchase Metaplanet, a Japanese company listed on the Tokyo Stock Exchange, has recently made headlines by adopting Bitcoin as a strategic reserve asset. Here's a summary of their Bitcoin purchases and related developments:
### **Metaplanet's Bitcoin Purchases**
1. **Initial Purchase (June 2024)**
- Bought **117.7 BTC** for **1 billion yen** (~$6.5 million at the time).
- Average price: ~$55,300 per BTC.
2. **Second Purchase (July 2024)**
- Added **42.47 BTC** for **400 million yen** (~$2.5 million).
- Average price: ~$58,900 per BTC.
3. **Third Purchase (July 2024, Post-Price Drop)**
- Acquired **20.195 BTC** for **200 million yen** (~$1.25 million).
- Average price: ~$61,900 per BTC.
4. **Fourth Purchase (July 2024, Continued Accumulation)**
- Bought **23.351 BTC** for **250 million yen** (~$1.6 million).
- Average price: ~$68,500 per BTC.
### **Total Holdings (As of Latest Data)**
- **Total BTC Held:** ~203.7 BTC
- **Total Investment:** ~1.85 billion yen (~$12 million)
- **Average Purchase Price:** ~$59,000 per BTC
### **Why Is Metaplanet Buying Bitcoin?**
- **Hedge Against Yen Weakness:** Japan's currency has been depreciating, and Bitcoin serves as a non-sovereign store of value.
- **Corporate Treasury Strategy:** Similar to MicroStrategy, Metaplanet is using BTC as a long-term reserve asset.
- **Market Confidence:** The company sees Bitcoin as a hedge against inflation and Japan's economic challenges.
### **Market Reaction & Future Plans**
- Metaplanetโs stock (**3350.T**) surged after announcing its Bitcoin strategy.
- The company may continue accumulating BTC, depending on market conditions.
Would you like more details on their financial strategy or comparisons with other corporate Bitcoin holders like MicroStrategy?
