Metaplanet's Bitcoin Bet: 0.01% of Supply, $203M Stash

Japan's Metaplanet, a prominent investment firm, has made a significant addition to its Bitcoin (BTC) holdings, now owning approximately 0.01% of the total BTC supply. The company, which mirrors the strategy of American firm MicroStrategy, has been actively acquiring Bitcoin as part of its ambitious plan to lead Japan's Bitcoin renaissance.

In a recent announcement, Metaplanet revealed that it had purchased 68.59 BTC for $6.6 million, bringing its total stash to 2,100 BTC, worth around $203 million at the time of purchase. The company paid an average of $96,335 per BTC, reflecting the current market price of the cryptocurrency.

Metaplanet's latest acquisition comes as part of its "21 million plan," which aims to accumulate a significant portion of the total BTC supply. The company has set a goal to acquire 10,000 BTC by Q4 2025, which would cost more than $1 billion, and plans to boost its cache to 21,000 BTC by Q4 2026, valued at roughly $2.1 billion.

The company's strategy is reminiscent of MicroStrategy's Bitcoin playbook, which involves buying Bitcoin to provide shareholders with the best value for their money. Following its latest purchase, MicroStrategy now holds 478,740 BTC, valued above $46.5 billion.

Metaplanet first purchased Bitcoin on April 8, 2024, adopting it as a core treasury asset to protect against currency depreciation. Its latest acquisition has been acknowledged by Michael Saylor, founder and executive chairman of MicroStrategy, who defined Metaplanet's stash as "One Basis Point of Bitcoin."

Metaplanet's aggressive Bitcoin buying strategy has positioned it as Asia's second-largest corporate holder of Bitcoin, following Boyaa Interactive, which holds 3,183 BTC worth $309 million.

As Bitcoin's price continues to fluctuate, Metaplanet's commitment to acquiring more of the cryptocurrency signals a growing confidence in its long-term potential. The company's ambitious plan to lead Japan's Bitcoin renaissance is a testament to the increasing acceptance and adoption