Metaplanet Expands Bitcoin Holdings With Additional 57.1 BTC Purchase

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Metaplanet, a renowned entity listed on the prestigious Tokyo Stock Exchange, remains unaffected by the recent decrease in the price of Bitcoin (BTC). According to an announcement, Metaplanet expanded its Bitcoin holdings by acquiring 57.1 BTC at an average price of ¥8,756,207 per Bitcoin, totaling approximately ¥500 million ($3.4 million).

Metaplanet Now Holds Over 300 Bitcoins

Interestingly, Metaplanet has purchased a total of ¥2.95 billion ($20 million), increasing its cumulative Bitcoin holdings to 303.095 Bitcoins. By accumulating more Bitcoin, Metaplanet is positioning itself to benefit from the potential long-term appreciation of the cryptocurrency, which has seen significant interest from individual and institutional investors worldwide.

This announcement was also shared on Metaplanet’s social media platform X immediately after the close of trading on the Tokyo Stock Exchange. 

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Additionally, the company is positioning itself strategically to capitalize on the ongoing digital transformation of financial markets. With the current development for the company, the Japanese gain exposure to Bitcoin without paying unrealized gains tax that could be as high as 55%

Metaplanet Secures $6.8M Loan to Boost BTC Holdings

The acquisition comes a few days after the investment firm secured a 1 billion Japanese yen ($6.8 million) loan from one of its shareholders, MMXX Ventures. This loan has an annual interest rate of 0.1% and will be paid back in one sum six months after it is taken, beginning on August 8th.

Meanwhile, just two days prior, Metaplanet revealed plans to raise $68 million through a stock rights offering, with $58 million earmarked specifically for Bitcoin investments. This aggressive accumulation strategy is similar to MicroStategy’s approach, which is the largest corporate Bitcoin holder.

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Metaplanet Hits 1B Yen Bitcoin Accumulation Target

A few weeks ago, the Tokyo-based investment firm hit its target of accumulating ¥1 billion worth of Bitcoin. The company said it met its investment target after purchasing an additional 20.381 BTC.

It is worth emphasizing that Metaplanet’s recent success is the product of hard work and purposeful effort. Before this, the Japanese firm increased its Bitcoin exposure with notable purchases. Recall that the firm acquired 23.35 BTC to its Bitcoin holdings in June. Shortly after, the company bought an additional 42.47 BTC at an average price of ¥9,419,300 per coin.

With its Bitcoin accumulation strategy, Metaplanet aims to participate in the ongoing digital transformation in the financial market.

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