Metaplanet bought 1,004 Bitcoin for $104.6 million on May 19, totaling 7,800 BTC.
In May alone, the firm added 2,800 Bitcoin, making it Asia’s top public BTC holder.
Bitcoin is trading at $103,029, with bullish traders eyeing a near-term $116,000 breakout.
Japanese investment firm Metaplanet made headlines again on May 19 by adding 1,004 Bitcoin to its portfolio. The latest purchase cost Metaplanet 15.2 billion yen, or around $104.6 million. This marked its second-largest single Bitcoin buy so far.
The company’s largest previous purchase was just a week earlier, on May 12, when it acquired 1,241 Bitcoin for $129 million. That move pushed its total holdings past those of El Salvador, a country known for its aggressive Bitcoin accumulation policy. The company’s total Bitcoin holdings have reached 7,800 coins, with a market value of roughly $807 million.
The firm also reported a BTC yield of 95.6% for the first quarter, with the second quarter currently sitting at a 47.8% return, measured by the change in Bitcoin per fully diluted share.
Source: Simon Gerovich
Metaplanet Leads Asia in Bitcoin Holdings
Along with expanding its Bitcoin reserves, Metaplanet’s stock rose 9.63% in today’s trading session. It closed at ¥683 and briefly reached ¥715 during the day, as reported by Yahoo Finance. Investor confidence appears to be tracking with the firm’s Bitcoin purchases.
Source: Yahoo Finance
Metaplanet now holds more Bitcoin than any other public company in Asia and ranks tenth worldwide, based on data from BiTBO. Its aggressive buying streak has become one of the fastest-paced among public firms, with a total of 2,800 Bitcoin added in May alone.
In April, the company made four separate Bitcoin purchases totaling 794 coins. March saw six purchases, bringing in 1,655 Bitcoin. The increase in activity suggests the company is placing more focus on Bitcoin as a core holding.
Though Metaplanet has been quick to build its Bitcoin portfolio, it still trails behind Michael Saylor’s Strategy, which remains the largest corporate Bitcoin holder. Strategy currently owns 568,840 Bitcoin valued at around $59 billion, representing 77% of all growth in corporate Bitcoin holdings this year.
Bitcoin Poised for $116,000 Breakout
At present, Bitcoin is trading at $103,029, just 5.72% below its all-time high. Traders have been calling for a move toward $116,000 soon. One trader, Alan, shared on Sunday May 18, “Next early week Bitcoin target: $116,000,” and pointed to a converging triangle with dropping volume as a possible sign of an incoming breakout.
$BTC is brewing within this converging triangle with decreasing volume,” Alan noted.
Source: TATrader_Alan
Traders remain bullish, with most expecting Bitcoin to test previous highs soon. A weekend prediction put Bitcoin near the $116,000 mark within days. The broader market sentiment leans toward renewed price discovery, as recent trading has shown little volatility.
