Metaplanet Inc., a Japanese firm that has shifted its primary focus from hospitality to bitcoin treasury management, announced the purchase of 518 additional bitcoin for $61.4 million.
This brings the company’s total bitcoin reserves to 18,113 coins, valued at approximately $1.85 billion at current prices.
Metaplanet’s expanding bitcoin strategy
With this latest acquisition, Metaplanet remains the sixth-largest corporate holder of bitcoin globally, surpassing many institutional competitors.
The firm has ramped up its bitcoin purchases over the past year, mirroring strategies seen from other high-profile companies.
Following the MicroStrategy playbook
Metaplanet’s approach closely resembles that of MicroStrategy, which has famously accumulated bitcoin through repeated share issuances.
MicroStrategy, now rebranded as Strategy, currently holds over 628,000 BTC, making it the largest public corporate holder.
Metaplanet recently announced plans to raise $3.7 billion via a large stock offering aimed at further increasing its bitcoin holdings.
For a full overview of Metaplanet’s on-chain bitcoin position, see the Metaplanet bitcoin treasury tracker.
Market reaction and bitcoin price trends
Shares of Metaplanet fell by 2.4% following news of the purchase, while bitcoin itself traded down 2.6% at $118,927 after nearing record highs above $123,000 earlier in the week.
