Metaplanet Buys 1,004 Bitcoin for $104 Million, Expands Holdings to 7,800 BTC

Metaplanet, a Japanese investment firm, has continued its aggressive Bitcoin (BTC) acquisition strategy, purchasing 1,004 Bitcoin for over $104 million. This latest purchase brings the company's total Bitcoin holdings to 7,800 BTC, valued at approximately $808 million at the time of the disclosure. The firm acquired the latest batch of Bitcoin at an average price of $103,873 per BTC, according to a May 19 disclosure.

Metaplanet's CEO, Simon Gerovich, highlighted the firm's commitment to Bitcoin, stating that the company has spent around $712.5 million on its crypto holdings, with an average purchase price of $91,343 per Bitcoin. This strategic move positions Metaplanet as the largest publicly listed corporate Bitcoin holder in Asia and the 11th largest globally.

The firm's Bitcoin acquisition strategy is modeled after Michael Saylor’s approach, which involves pivoting from traditional business operations to focus on accumulating Bitcoin. Metaplanet began purchasing Bitcoin in April 2024 and has since rebranded itself as a Bitcoin treasury, offering investors exposure to the leading cryptocurrency through its publicly traded shares.

Metaplanet's long-term goal is to accumulate 10,000 BTC by the end of this year. The company has been funding its Bitcoin purchases through various bond issuances, with the most recent being a $15 million offering announced last week. This represents the firm's 15th sale of zero-interest ordinary bonds, demonstrating its commitment to financing its Bitcoin strategy through debt instruments.

The latest purchase by Metaplanet comes at a time when Bitcoin is nearing its all-time high, having briefly touched $106,518 before settling at $103,152. This strategic move by Metaplanet underscores the growing trend among corporations to adopt Bitcoin as a reserve asset, reflecting a broader shift in the financial landscape towards digital currencies.