Metaplanet Adds 780 BTC, Becomes 7th Largest Corporate Holder

Japanese Firm Metaplanet Climbs to 7th in Corporate BTC Rankings

Metaplanet purchased 780 BTC for $92.5 million, bringing total holdings to 17,132 BTC worth $2 billion. The Tokyo firm now ranks 7th among corporate holders.

Metaplanet purchased 780 BTC for $92.5 million on Monday, paying an average price of $118,622 per coin. The Tokyo-listed company now holds 17,132 BTC worth approximately $2 billion at current prices.

CEO Simon Gerovich said the company’s average purchase price across all holdings is $101,030 per BTC. The latest purchase brings Metaplanet to seventh place among publicly traded companies that hold Bitcoin as treasury assets, according to BitcoinTreasuries.net.

The company started buying Bitcoin in April 2024. Last month, Metaplanet raised its target to acquire over 210,000 BTC by the end of 2027. That amount represents roughly 1% of Bitcoin’s total supply.

Metaplanet’s Bitcoin operations generated 1.1 billion yen ($7.6 million) in revenue during the second quarter, up 42.4% from the same period last year. The company’s stock price rose 5.6% to 1,247 yen on Monday following the purchase announcement.

Despite Monday’s gains, Metaplanet shares remain down 16.3% over the past month. However, the stock has climbed 258.3% since the start of the year. 

Metaplanet was originally a hotel developer before changing its business strategy in early 2024 to focus on Bitcoin accumulation. The company has become one of the fastest-growing corporate Bitcoin holders since making the switch.

The strategy resembles that of Strategy (formerly MicroStrategy), the U.S. software company that holds more than 597,000 BTC. Strategy currently has a market value exceeding $100 billion, largely driven by its Bitcoin holdings.

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