With its most recent Bitcoin acquisition, Japanese investment giant Metaplanet has garnered media attention and solidified its position as Asia’s second-largest corporate Bitcoin holder. Its holdings now number 1,018.17 BTC, or almost $68 million, thanks to this fresh buy. This puts Metaplanet only behind Boyaa Interactive International, a company based in China, which still has a larger total of 1,100 BTC.
With the addition of 156.78 BTC to its reserve on October 28, Metaplanet’s average purchase price increased to about $61,629, or 9.4 million Japanese yen per Bitcoin. This important move is in line with the company’s long-standing goal of increasing its Bitcoin holdings, which CEO Simon Gerovich referred to as a “Bitcoin-first” approach. On social media site X, Gerovich commemorated the achievement and reaffirmed the company’s continued plan to buy more Bitcoin. He eagerly answered “always and forever” when questioned about the company’s future intentions, indicating Metaplanet’s ongoing interest in growing its Bitcoin holdings.
Metaplanet’s recent purchase reflects the market’s favorable reaction to its strategic investment in Bitcoin, further driving its stock price upward. Following the acquisition, the company’s shares recently increased by 8%, which helped the company’s stock price soar 600% since the start of the year.
Referred to as “Asia’s MicroStrategy,” Metaplanet wants to take the lead in the area’s corporate Bitcoin adoption. In April, the corporation started buying Bitcoin as a way to safeguard a strategic reserve asset and as a hedge against economic challenges in Japan. The company’s strategic concentration on Bitcoin is a key component of its strategy, aimed at fortifying it against economic volatility and solidifying its position in the rapidly evolving digital asset market.
Even though Metaplanet is catching up, Boyaa Interactive still owns the most Bitcoin in Asia among corporations. Metaplanet is not far behind, while Meitu of Hong Kong is in third place with 940.9 BTC. As part of its long-term commitment to cryptocurrencies and its financial strategy, Metaplanet’s solid foothold in Bitcoin positions it as a significant corporate investor in the Asian crypto market.
