Japanese investment firm Metaplanet doubles down on Bitcoin, acquiring 150 BTC for $12.5 million

Metaplanet has increased its Bitcoin holdings once again, acquiring an additional 150 BTC for approximately $12.5 million.

Japanese investment firm Metaplanet has once again increased its Bitcoin holdings, acquiring an additional 150 BTC for approximately $12.5 million, the Tokyo-listed company disclosed on Tuesday.

The company purchased the Bitcoin at an average price of $83,508, which comes as part of a broader strategy by Metaplanet to strengthen its treasury with digital assets. The latest purchase brings Metaplanet’s total Bitcoin holdings to 3,200, which are currently valued at around $265.9 million.

Earlier this month, Metaplanet announced plans to acquire up to 10,000 BTC by the end of 2025 and 21,000 BTC by 2026. To support these purchases, the company recently raised 2 billion yen ($13.3 million) through a bond issuance, which was fully allocated to EVO FUND.

The company used proceeds from a similar bond issuance earlier this year to finance Bitcoin acquisitions.

Metaplanet’s stock price dipped slightly on Tuesday, closing 0.49% lower at ¥4,030. However, the stock is still up 15.8% year-to-date and has surged 1,819% over the past year, according to Yahoo Finance.

For context, Japan’s Nikkei 225 index posted a 1.2% gain on the same day.

The company has been expanding its Bitcoin holdings consistently. One of its largest recent purchases occurred on March 12, when it acquired 162 BTC, bringing its total holdings at that time to 3,050 BTC.

Bitcoin’s price movement has been closely watched as the cryptocurrency tries to hold above the $85,000 level. Traders are remaining cautious about the market’s strength as Bitcoin failed to break above the $90,000 mark for over a week now.

Despite a 30% decline from its all-time high of $109,354 hit on January 20, indicators in the derivatives market suggest resilience.

The Bitcoin basis rate, which measures the premium of monthly futures contracts over spot prices, rebounded after briefly signaling bearish sentiment. While the current 5% basis rate is lower than the 8% recorded two weeks ago, it remains within neutral territory, suggesting that leveraged buyers are still active in the market, albeit with more caution.

In another sign of investor confidence, Bitcoin spot exchange-traded funds (ETFs) saw a single-day inflow of $274.59 million on Saturday, reflecting renewed interest in the asset. BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows among Bitcoin investment products with $42.26 million in new capital.

However, broader market sentiment remains mixed as digital asset investment products have experienced five consecutive weeks of outflows, with a total of $1.7 billion withdrawn in the past week alone.

While long-term Bitcoin holders like Metaplanet continue to accumulate, the short-term market outlook remains uncertain as traders assess the strength of the current cycle.