Metaplanet Continues to Accumulate Bitcoin (BTC), Now Holds 2,000 BTC

Tokyo-based investment firm Metaplanet has continued to accumulate Bitcoin (BTC). Earlier today, the firm announced purchasing additional coins

Tokyo-based investment firm Metaplanet has continued to expand its Bitcoin (BTC) holdings with a new purchase announced earlier today. According to the firm's latest filing, it purchased 269.43 BTC at an average price of 14,846,322 yen per Bitcoin. At the current market price, this equates to approximately $25.8 million. With the latest purchase, Metaplanet now has 2,031.41 BTC, bought at an average price of 12,243,936 yen per Bitcoin.

Metaplanet's recent purchase of Bitcoin reinforces its commitment to the leading digital asset. Despite its short-term volatility, the firm is optimistic about Bitcoin's future price movement. In January, Metaplanet unveiled a strategy to continue purchasing Bitcoin. The firm announced that it will issue 21 million new share subscription rights with a 0% discount rate to attract 116 billion JPY (roughly $745 million). According to Metaplanet, this will mark one of the largest Bitcoin purchases in Asian markets' history.

As highlighted in an earlier U.Today report, Metaplanet aims to hold 10,000 BTC in its Bitcoin reserve by the end of 2025. By the end of 2026, the firm hopes to double its target to 21,000 BTC. If achieved, this goal would solidify Metaplanet's position as one of the leading global corporate holders of Bitcoin.

Bitcoin's price is currently moving downard amid a pessimistic outlook in the broader market. Within 24 hours, it declined by 1.24% to trade at $96,119. However, the trading volume is up 28.8% to $20.2 billion, suggesting rising investor interest. This means that positive market momentum could ignite a recovery in the price of the flagship coin.

The prospects of BTC are positive, considering the massive institutional adoption. Firms like Strategy, Semler Scientific and Riot Platform continue to double down on new Bitcoin purchases.