Japanese Bitcoin Investor Metaplanet, Known as the “Japanese MicroStrategy,” Has Acquired an Additional 38.464 Bitcoin

The latest transaction brings Metaplanet's total bitcoin holdings to 398.832 BTC, valued at roughly 3.75 billion yen ($26 million).

Japanese Bitcoin investor Metaplanet has acquired an additional 38.464 bitcoin, bringing its total bitcoin holdings to 398.832 BTC, valued at roughly 3.75 billion yen ($26 million).

The latest transaction, valued at around 300 million yen ($2 million), was reported on Monday. Bitcoin rose 3.12% in the past 24 hours to trade at $56,732 after dipping to around $52,700 earlier this week.

Metaplanet's stock traded 4.42% higher on Tuesday, reaching 1,086 yen in Japan's afternoon session, following a high of around 2,000 yen earlier in the day.

Metaplanet has been increasing its bitcoin reserves since May, when it adopted bitcoin as a strategic treasury asset in response to Japan’s economic conditions, including high government debt, negative real interest rates, and a weakened yen.

On Monday, Metaplanet announced plans to exercise its 11th series of stock acquisition rights, expected to generate proceeds of 299.7 million yen, which will be used to purchase more bitcoin.

Last week, the firm partnered with SBI VC Trade, the crypto arm of SBI Group, to access compliant corporate custody services.

Metaplanet CEO Simon Gerovich said that the partnership will support Metaplanet’s Bitcoin accumulation strategy by engaging with key stakeholders in Japan.

"Access to a compliant corporate custody service is a critical component of this partnership, which prioritizes tax efficiency and considers using Bitcoin as collateral for financing," Metaplanet added.

SBI VC Trade, a wholly-owned subsidiary of SBI Holdings, will support Metaplanet in Bitcoin trading, storage, and operations, among other areas of cooperation.

Metaplanet made its initial foray into Bitcoin in April 2024, adopting the cryptocurrency as a treasury asset and purchasing its first batch of Bitcoin for $6.5 million. The company’s decision to invest in Bitcoin was influenced by prominent industry figures such as Morgan Creek Capital founder Mark Yusko, Ordiswap founding member Jack Liu, and companies like Sora Ventures and UTXO Management.

Virginia-based software developer MicroStrategy remains the largest corporate bitcoin holder, with 226,500 BTC, followed by Marathon Digital with 25,000 BTC.

In December, Metaplant stated that it adopted bitcoin as a reserve asset to mitigate risks associated with Japan’s massive debt burden and the yen volatility. Japan’s net debt to gross domestic product (GDP) ratio was the highest among G7 countries in 2023, at around 159%.