Metaplanet, often dubbed as Japan’s MicroStrategy, has announced the acquisition of 1,271 Bitcoins for $126.7 million at a BTC price of $102,111 per coin, marking a significant step toward its goal of amassing 10,000 BTC by the end of 2026. This latest acquisition elevates Metaplanet’s total Bitcoin holdings to 6,796 BTC, worth approximately $608.2 million, acquired at an average cost of $89,492 per Bitcoin. The strategic purchase also propels Metaplanet past El Salvador in total BTC reserves, positioning the Japanese firm as a major player in the Bitcoin accumulation race.
The acquisition comes just days after Metaplanet issued $25 million worth of zero-coupon bonds to fuel further BTC acquisitions through its EVO FUND. CEO Simon Gerovich emphasized the company’s unwavering confidence in Bitcoin’s long-term potential, highlighting a remarkable 170% BTC yield since the firm adopted its Bitcoin-centric strategy in mid-2024.
Notably, financial analyst Adam Back has praised Metaplanet’s BTC acquisition strategy, comparing it favorably to that of MicroStrategy. Gerovich’s ambition extends beyond El Salvador’s reserves, with the Japanese firm setting its sights on surpassing the Bitcoin holdings of major corporate giants like Coinbase and Block Inc.
Meanwhile, Bitcoin’s rally continues to gain momentum, with the cryptocurrency surging 10.63% this week to reach $105,000 amid optimistic US-China trade negotiations. Financial analyst Joe Consorti noted a significant correlation between Bitcoin’s price movement and the Global M2 Money Supply, albeit with a 70-day lag.
Also Read: Metaplanet Expands Bitcoin Holdings with $25M Bond Issue Amid Stock Surge
In addition to Metaplanet’s aggressive accumulation, blockchain analytics platform LookonChain has identified notable activity from a major Bitcoin whale, who purchased 821 BTC worth $85.42 million, following a similar purchase the previous day. This whale has now accumulated 1,721 BTC valued at $179 million over the past two days alone, reflecting continued institutional interest in the flagship cryptocurrency.
Metaplanet’s stock responded positively to the latest BTC acquisition, climbing 3% to 550 JPY. Since the firm’s strategic pivot to Bitcoin in 2024, its stock has soared by an astonishing 1,700%, underscoring investor confidence in its aggressive Bitcoin acquisition strategy.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
