Japanese investment company Metaplanet has made headlines as the first public firm to announce a major bitcoin purchase in August, acquiring 463 BTC for 8 billion yen (about $53.7 million).
The average purchase price was around $115,895 per bitcoin, according to the company’s recent statement.
This acquisition brings Metaplanet’s total bitcoin holdings to 17,595 BTC, now valued at over $2 billion. The company remains the seventh-largest public holder of bitcoin worldwide.
Focus on long-term accumulation
Metaplanet’s CEO, Simon Gerovich, has reiterated the firm’s commitment to its long-term goal of holding 210,000 BTC—equivalent to 1% of the total bitcoin supply—by the end of 2027.
The company is currently 8.4% of the way toward this ambitious target.
Strategy modeled after MicroStrategy
On August 2, Metaplanet announced an offering of approximately $3.73 billion in perpetual preferred shares to raise additional funds for bitcoin purchases.
This approach closely follows the playbook of MicroStrategy, which has aggressively used similar financial instruments to build up its own massive bitcoin treasury.
The company stated in its disclosure:
“Our latest acquisition demonstrates our continued commitment to bitcoin as a treasury asset.”
Growing competition among public holders
Metaplanet currently trails firms such as MicroStrategy, Marathon Digital, XXI, Bitcoin Standard Treasury Company, Riot Platforms, and Trump Media in overall bitcoin holdings.
The number of public companies holding bitcoin has risen to 162, up from 112 in late May. For a comprehensive database, see the bitcoin treasuries list.
