Metaplanet Invests Nearly 8 Billion Yen to Increase Holdings of 463 Bitcoins

Japan’s Investment Company Metaplanet Announces Bitcoin Purchase

On Monday (the 4th), Japanese investment company Metaplanet announced that it has spent approximately 7.995 billion yen (about 53.7 million USD) to increase its holdings of 463 bitcoins, as part of its financial operations involving bitcoin, with an average purchase price of 17,268,320 yen (approximately 115,895 USD).

As of August 4, Metaplanet holds a total of 17,595 bitcoins (valued at approximately 2.018 billion USD based on the current bitcoin price of about 114,700 USD). According to Metaplanet’s CEO Simon Gerovich, the total cost of acquiring these bitcoins is approximately 1.78 billion USD, with an average purchase price of around 101,422 USD.

Originally, Metaplanet was a company focused on developing Web3 and metaverse technologies while also operating in the hotel industry. However, in April 2024, it transformed into a bitcoin financial enterprise, adopting bitcoin as its core financial reserve asset to hedge against Japan’s debt burden and the resulting fluctuations of the yen. Last month, Metaplanet revised its original bitcoin reserve target, planning to hold 210,000 bitcoins by the end of 2027.

According to data from Bitcointreasuries.net, Metaplanet is the seventh largest publicly traded company in the world by bitcoin holdings. The largest is Michael Saylor’s Strategy (formerly MicroStrategy), with a total of 628,791 bitcoins.

Related Reports: “Metaplanet Plans to Mortgage Bitcoin for Financing, Considering Acquisitions of Japanese Digital Banks”