Japanese investment firm Metaplanet Inc. has recently expanded its Bitcoin holdings, investing $10.4 million to bring its total to over 1,000 BTC. On Monday, Metaplanet disclosed the acquisition of 156.78 BTC at an average price of approximately 10.2 million yen ($66,436) per Bitcoin. This latest purchase brings the Tokyo-listed firm’s total Bitcoin holdings to 1,018.17 BTC, valued at roughly $68.8 million.
Metaplanet Emerges as Asia’s Largest Corporate Bitcoin Holder
Metaplanet CEO Simon Gerovich shared on X that the purchase now positions Metaplanet as one of Asia’s largest corporate holders of Bitcoin. In response to questions about future acquisitions, Gerovich emphasized the company’s commitment with the statement, “Always and forever.”
Since beginning its Bitcoin acquisition strategy in May, Metaplanet has substantially increased its holdings, moving from 141.07 BTC in June to 398.83 BTC by September and now surpassing the 1,000 BTC mark. The company’s recent funding initiatives have been instrumental in supporting this growth, including a stock acquisition rights offering last week that raised approximately 10 billion yen ($66 million).
Shareholder Support and Stock Market Success
In August, Metaplanet’s stock acquisition rights allowed shareholders to purchase new shares at a discounted rate, which helped secure funding from 13,774 individual investors. Metaplanet has noted that shareholders do not have ownership over the firm’s Bitcoin assets, underscoring its commitment to reinvestment and capital growth. The company’s stock surged by 5.9% on Monday on the Tokyo exchange and has seen a 610% increase year-to-date, reflecting robust investor confidence.
Partnership with Hoseki for Transparency in Bitcoin Holdings
To enhance transparency, Metaplanet has partnered with Bitcoin verification leader Hoseki, allowing stakeholders to verify the firm’s Bitcoin holdings. Through the partnership with Hoseki Verified, Metaplanet aims to build trust and reinforce transparency in its reserve holdings.
With growing economic uncertainties and inflationary pressures, Bitcoin’s role as a potential reserve asset is gaining traction among corporations. Digital asset platforms like Abra are also expanding services to facilitate corporate crypto reserves, aligning with Metaplanet’s forward-looking strategy.
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