Japan's Metaplanet Surpasses 1,000 BTC in Assets with Latest $10 Million Investment

Tokyo-listed investment firm Metaplanet Inc. has bolstered its Bitcoin reserves by surpassing the 1,000 BTC mark following a $10.4 million purchase.

Tokyo-listed investment firm Metaplanet Inc. has surpassed the 1,000 BTC mark in its treasury following a $10.4 million purchase of bitcoin.

The company (7155:Tokyo) disclosed on Monday that it had acquired 156.78 BTC at an average price of ¥10.2 million ($66,436) during its latest buying spree.

This latest purchase brings Metaplanet’s total bitcoin holdings to 1,018.17 BTC, valued at approximately $68.8 million at current market rates.

Highlighting this milestone, CEO Simon Gerovich announced on X that Metaplanet is now "one of the largest institutional bitcoin holders in Asia."

The company began adopting bitcoin as a strategic treasury reserve asset in May 2024, tying acquisitions to capital markets activities and operating revenues to diversify its asset portfolio.

Last week, Metaplanet successfully raised ¥10 billion ($66 million) through its 11th scheduled stock acquisition rights offering. The offering included 13,774 shareholders who were able to purchase shares at a discounted price. The funds from these activities contributed to Metaplanet’s expanding bitcoin holdings.

It’s worth noting that while Metaplanet's shareholders will benefit indirectly from the company's performance, they do not have a direct interest in the firm's bitcoin reserves. Moreover, Metaplanet has stated that it does not pay dividends on its common stock and does not plan to do so in the future.

Following the announcement, Metaplanet's shares continued their upward trend, rising 5.9% to ¥1,137 in afternoon trading on Monday.

The stock has gained 14.7% in the past month and is currently up 610% year-to-date, significantly outperforming the Nikkei 225 index, which is currently up 2.07%.