Metaplanet's $44M Bitcoin Buy Boosts Stock 19%

Metaplanet, a Japanese investment firm, has seen its stock surge by 19% following a strategic purchase of $44 million worth of Bitcoin, totaling 497 BTC. The company's CEO, Simon Gerovich, announced the acquisition on March 5, stating that the firm bought the cryptocurrency at around $88,448 per coin, bringing its total Bitcoin holdings to 2,888 BTC.

The company's latest purchase has seen its Bitcoin stash grow to around $251 million, with Bitcoin trading at approximately $87,150. This acquisition comes amidst a 14-day decline in Bitcoin's price, which has fallen by around 8.5% and hit a three-month low of under $79,000 on February 28. Despite the recent dip, Metaplanet's strategic purchase could indicate a bullish sentiment among investors.

Metaplanet's stock price on the Tokyo Stock Exchange reacted positively to the news, jumping by 19% by 2 pm local time on March 5 and trading around 3,985 Japanese yen ($26.60). The company's stock had taken a hit over the past trading week as Bitcoin tanked but remains one of the best performers over the last 12 months, increasing over 1,700%.

This is Metaplanet's second purchase this week, having scooped up 156 BTC on March 3. Gerovich mentioned at the time that the firm was exploring a potential listing outside of Japan, such as in the US. The company has acquired 794.5 BTC so far this year and reported gains of around $66 million on those purchases in Q1 2025. Metaplanet aims to accumulate 21,000 BTC by 2026 as part of its broader strategy to lead Japan's Bitcoin renaissance.

These latest acquisitions have propelled Metaplanet to become the 12th-largest corporate Bitcoin holder globally and the largest in Asia, having surpassed Hong Kong gaming firm Boyaa Interactive International, according to BiTBO. Gerovich met with officials at the New York Stock Exchange and Nasdaq in late February to introduce the firm's "platforms and functions." He stated that the company is considering