Metaplanet buys 775 Bitcoin for $90 million
Japanese-listed company Metaplanet has purchased 775 Bitcoin, investing about $90 to $93 million at an average price close to $120,000 per BTC.
Treasury reaches 18,888 BTC
Following this acquisition, Metaplanet’s holdings rise to 18,888 BTC, valued between $1.95 and $2.2 billion at current market prices. The company now ranks as the seventh-largest corporate Bitcoin holder worldwide and remains the only one outside the United States.
Long-term Bitcoin strategy
Metaplanet’s accumulation strategy has gained attention from investors, as the firm continues to expand its exposure during periods of volatility. The company also maintains a robust balance sheet, with Bitcoin assets outweighing financial liabilities by more than 18 times.
Market reaction
After the announcement, Metaplanet’s shares rose on the Tokyo Stock Exchange, highlighting investor confidence in its Bitcoin-focused strategy. Many analysts now view the company as a Japanese equivalent of MicroStrategy, which has long been the leading corporate Bitcoin holder in the U.S.
This move reinforces the growing trend of corporations adopting Bitcoin as a strategic reserve asset. Market observers expect more Asian firms to follow this path in the months ahead.
Souce:
Blockchain News – Metaplanet in Japan reportedly buys 775 BTC worth $90 million
CoinDesk – Metaplanet expands Bitcoin treasury by 775 BTC, assets outweigh debt 18-fold
CoinLaw – Metaplanet boosts Bitcoin holdings to 18,888 BTC with $93M buy
Tech in Asia – Japan’s Metaplanet buys 775 BTC, total holdings hit $2.2B
Investing.com – Metaplanet buys additional 775 Bitcoin for $93M
