Metaplanet Expands Bitcoin Portfolio by Acquiring 156 BTC

Japanese invеstmеnt firm Metaplanet еxpаnded its Bitcoin portfolio with a frеsh аcquisition of 156 BTC on Mаrch 3.

Jаpаnеsе invеstmеnt firm Metaplanet hаs expanded its Bitcoin portfolio with a fresh acquisition of 156 BTC on March 3. The latest purchase, valued at approximately $13.4 million, came at an average price of $85,890 per BTC.

The company's total Bitcoin holdings have now reached 2,391 BTC, and its consistent boldness in the crypto sphere has significantly increased the investment firm's portfolio value to $196.3 million.

Metaplanet, led by CEO Simon Gerovich, has been on a BTC-buying spree since April last year, acquiring BTC at an average price of $82,100. That puts the firm’s overall investment up by 13%. The company has set its sights on accumulating 21,000 BTC by 2026, positioning itself at the forefront of Japan's Bitcoin adoption wave.

In a significant development, Gerovich recently met with officials from the New York Stock Exchange and Nasdaq to explore potential opportunities outside Japan. He stated on March 3 that Metaplanet is "considering the best way to make Metaplanet shares more accessible to investors around the world."

Stock Price Skyrockets with Bitcoin Strategy

Since launching on OTC Markets in November, Metaplanet's stock (MTPLF) has surged by an astonishing 530%, jumping from $3 to $18.9. The firm has also been one of the Tokyo Stock Exchange's top performers over the last year, with its stock climbing 1,800%, according to Google Finance.

OTC Markets, a US-based financial trading platform, provides liquidity and price information for around 12,400 securities, many of which are international. By listing there, Metaplanet has already increased its accessibility to global investors, a move that could be expanded further if it secures a Nasdaq or NYSE listing.

The latest Bitcoin purchase also came shortly after Metaplanet issued $13.6 million in Zero-Interest bonds to fuel its cryptocurrency investment strategy. This innovative funding method allows the firm to increase its reserves without adding high-interest debt.

Institutional Demand Boosts Bitcoin Price

The company's latest acquisition added to Bitcoin's bullish momentum, which had already been accelerating due to recent institutional buying trends. Following Metaplanet's announcement, Bitcoin's price saw a rapid jump from $85,207 to $94,537, according to CoinMarketCap data. At the time of writing, BTC is trading at $91,772.

According to data from BitBo's BitcoinTreasuries.NET, Metaplanet is now the 14th largest corporate Bitcoin holder in the world. The firm's aggressive accumulation strategy is drawing comparisons to Michael Saylor's BTC-focused strategy at MicroStrategy.

“Metaplanet, as a future-oriented company built on the Bitcoin Standard, continues to grow steadily day-by-day, ” stated Gerovich. He further emphasized that the firm will set an example for Japanese companies, proving that they can lead in financial innovation and long-term value creation.