Metaplanet Snaps Up 797 More BTC in Aggressive Bitcoin Gold Rush
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Metaplanet Snaps Up 797 More BTC in Aggressive Bitcoin Gold Rush
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Aiming for “Escape Velocity”
Metaplanet’s Ambitious Bitcoin Plan
Japanese investment firm Metaplanet has expanded its Bitcoin holdings with the purchase of 797 BTC, after spending approximately 13.8 billion yen, which is worth around $93 million.
The company acquired Bitcoin at an average price of around $117,000 per unit.
Aiming for “Escape Velocity”
Following the latest acquisition, Metaplanet currently holds 16,352 BTC, equivalent to approximately $1.64 billion. It maintains its position as the world’s fifth-largest publicly traded corporate BTC holder, according to data shared by BitcoinTreasuries. The accumulation now comes just a week after the Tokyo-listed company purchased 2,205 BTC.
The firm, which shifted from hotel operations to Bitcoin treasury management last year, has been accelerating its accumulation strategy amid rising institutional interest in crypto assets. Metaplanet has set an ambitious target to control over 210,000 BTC by 2027, which is around 1% of the total Bitcoin supply.
Metaplanet had previously revealed its plans to leverage its growing Bitcoin reserves to acquire cash-generating businesses, even potentially including a digital bank in Japan.
Last week, Gerovich told the Financial Times that the company is racing to accumulate as much BTC as possible, while describing it as a “Bitcoin gold rush” to reach “escape velocity” and maintain a lead over competitors. The exec also said that he would never sell the crypto asset.
