- Metaplanet purchased 797 BTC for $93.6 million, raising total holdings to 16,352 BTC worth $1.64 billion.
- The firm bought at an average price of $117,451 per BTC during Bitcoin’s record-breaking rally above $120,000.
- Now the fifth-largest public Bitcoin holder, Metaplanet aims to own 210,000 BTC by 2027 amid a bold treasury pivot.
Metaplanet, the Tokyo-based investment firm, was in headlines again when it grew its treasury in Bitcoin when it purchased 797 coins worth roughly $93.6 million. The purchase was made public when CEO Simon Gerovich made a formal announcement on the social networking platform X. The purchase was made when the price of Bitcoin was hitting new records after crossing the benchmark price of $120,000 for the very first time in history.
The company bought the latest tranche at an average spot price of $117,451 for every Bitcoin, which made its total holdings 16,352 BTC. That makes Metaplanet’s total investment in Bitcoin worth $1.64 billion, according to the firm’s official filings. Gerovich’s statement, “Another week, another tranche,” is an indication that the firm is buying Bitcoin consistently and deliberately amidst surging market sentiment.
Metaplanet is also the fifth-largest publicly traded investor in Bitcoin today, as indicated in figures from BitcoinTreasuries.net. The firm is behind Marathon Digital (MARA), Twenty One, Riot Platforms, and MicroStrategy. The top position is held by MicroStrategy under the leadership of Bitcoin bull Michael Saylor, which keeps an astonishing 597,325 BTC in reserve.
The aggressive Bitcoin strategy of the firm is the direct result of its 2024 transformative shift when the firm moved from hotel management operations to become a treasury firm specializing in Bitcoins. Metaplanet last month set an audacious target for owning more than 210,000 BTC in December 2027, aiming to be a force to be reckoned with as an institutional crypto investor.
Metaplanet Taps Bitcoin for Business Expansion
Metaplanet recently signaled in an interview with the Financial Times that it would borrow against its Bitcoin assets for purchasing businesses that generate cash. CEO Simon Gerovich described the current environment as a “Bitcoin gold rush” and emphasized the potential for growth in digital financial services. While such strategies for diversification are still in an early stage, the corporation foresees long-term value in building out a crypto-powered business ecosystem.
Metaplanet’s expansionist policy is faring well. The company in its latest earnings release recorded Q2 revenues amounting to 1.1 billion yen ($7.6 million), which is a 42.4% growth against the previous year, helped in part by the appreciation in value of its Bitcoin holdings as well as improving investor sentiment.
Bitcoin’s latest rally gives further validation to the firm’s treasury strategy. The largest crypto soared higher than $120,000 late Sunday, setting a record high. As of Monday, it was at $122,625, after rising 4.08% in the previous 24 hours.
Also Read: Metaplanet Buys $238 Million in Bitcoin, Targets 210,000 BTC by 2027
Meanwhile, Metaplanet’s stock also increased moderately, rising 1% to 1,580 yen ($10.7) in Monday’s trading session, as seen in Yahoo Finance data. The market reaction is a sign of growing investor confidence in Metaplanet’s long-term participation in Bitcoin and future position in the digital asset market.
As Bitcoin continues to hit new highs and mainstream finance embraces crypto, the firm is a pioneer in corporate Bitcoin use, revolutionizing Japan’s investment landscape and boldly paving the way for institutions everywhere.
Also Read | Metaplanet Acquires 1,234 BTC for $132.7 Million, Boosting Holdings to $1.3 Billion