Tokyo-based investment firm Metaplanet has intensified its Bitcoin acquisition strategy, announcing the purchase of an additional 497 BTC for $43.9 million.
Tokyo-based investment firm Metaplanet has intensified its Bitcoin acquisition strategy, announcing the purchase of an additional 497 BTC for $43.9 million. This acquisition, made at an average price of $88,448 per Bitcoin, follows closely on the heels of another purchase made just two days prior, in which the firm acquired 156 BTC for $13.4 million.
With this latest transaction, Metaplanet's total Bitcoin holdings have reached 2,888 BTC, which were accumulated at an average purchase price of $83,172 each, totaling approximately $240.2 million. The current market value of Metaplanet's Bitcoin assets stands at around $251 million, resulting in reported paper profits for the firm.
The aggressive accumulation strategy began in April 2024 when Metaplanet announced its commitment to Bitcoin investments. By December, the company officially designated Bitcoin treasury operations as a core business line.
The firm has set ambitious targets, aiming to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the conclusion of 2026.
On Wednesday, Metaplanet's stock saw a notable increase, rising by 17% in the Japanese market, contributing to a broader uplift as the Nikkei 225 index advanced by 0.55% during the same trading session.
The firm's recent actions highlight a significant trend in the investment landscape as companies increasingly recognize the potential of crypto.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
