Bitcoin

Japanese investment firm Metaplanet has achieved a new milestone with its latest Bitcoin purchase, as its holdings surpassed 1,000 BTC, worth about $68 million.&nbsp;
On Oct. 28, Metaplanet said it <a data-ct-non-breakable="null" href="https://contents.xj-storage.jp/xcontents/33500/487f6694/b407/4f59/a4cf/bcf7397caf41/140120241027503385.pdf" rel="null" target="null" text="null" title="null">acquired</a> another 156.78 Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>). This raised its total Bitcoin holdings to 1,018.17 BTC. The company’s latest investment puts its average purchase price at about $61,629 or 9.4 million Japanese yen per Bitcoin.
Simon Gerovich, the CEO of Metaplanet, celebrated the company’s latest Bitcoin milestone on X. Gerovich <a data-ct-non-breakable="null" href="https://x.com/gerovich/status/1850737795826155772" rel="null" target="null" text="null" title="null">wrote</a>:&nbsp;
<blockquote>
 “Metaplanet_JP now owns more than 1000 BTC, making it one of the largest corporate holders of Bitcoin in Asia.”&nbsp;
</blockquote>
When asked by a community member if the company would keep buying BTC, the Metaplanet executive <a data-ct-non-breakable="null" href="https://x.com/gerovich/status/1850747827099680979" rel="null" target="null" text="null" title="null">replied</a> with “always and forever,” hinting at future Bitcoin purchases.&nbsp;&nbsp;
<h2 id="asia-s-second-largest-bitcoin-holder">Asia’s second-largest Bitcoin holder</h2>
With Metaplanet’s latest Bitcoin purchase, the company has become Asia’s second-largest corporate Bitcoin holder. According to Bitcoin data tracker BitcoinTreasuries, Metaplanet is now the 19th-largest corporate Bitcoin holder in the world.&nbsp;
<figure>
 <img alt="Metaplanet becomes Asia’s second-largest corporate Bitcoin holder" src="https://s3.cointelegraph.com/uploads/2024-10/0192d2df-2758-7fb0-be23-9341235ebb35" title="">
 <figcaption style="text-align: center;">
 Largest corporate Bitcoin holders across the globe. Source: BitcoinTreasuries
 </figcaption>
</figure>
Despite reports saying that Metaplanet had become Asia’s largest corporate Bitcoin holder, BitcoinTreasuries data shows that the company still lags behind a Chinese firm <a data-ct-non-breakable="null" href="https://bitcointreasuries.net/entities/boyaa-interactive-international" rel="null" target="null" text="null" title="null">called</a> Boyaa Interactive International, which holds 1,100 BTC it purchased in January.&nbsp;
After Metaplanet comes a Hong Kong-based company called Meitu, which holds 940.9 BTC, worth about $64 million.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-future-global-wealth-managers-hyperbitcoinization" rel="null" target="null" text="null" title="null">Bitcoin to have ‘crazy decade’ as global wealth managers dive in</a>
<h2 id="bitcoin-as-a-strategic-treasury-reserve-asset">Bitcoin as a strategic treasury reserve asset</h2>
Metaplanet revised its treasury management strategy in May, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/asia-micro-strategy-metaplanet-smashes-all-other-japanese-stocks" rel="null" target="null" text="null" title="null">adopting Bitcoin</a> as its treasury reserve asset. The firm <a data-ct-non-breakable="null" href="https://contents.xj-storage.jp/xcontents/33500/78d457c2/7534/4ed6/abe3/90f046c452cf/140120240510590390.pdf" rel="null" target="null" text="null" title="null">said</a> this was a “direct response to sustained economic pressures in Japan.” Because of this, it would prioritize a “Bitcoin-first, Bitcoin-only” approach for the company.
<figure>
 <img alt="Metaplanet becomes Asia’s second-largest corporate Bitcoin holder" src="https://s3.cointelegraph.com/uploads/2024-10/0192d2de-c582-7e5a-a233-a2a7b98ef148" title="">
 <figcaption style="text-align: center;">
 Metaplanet’s stock price chart in the last year. Source: Google Finance
 </figcaption>
</figure>
Since its <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/japanese-investment-firm-boost-stock-adopt-bitcoi" rel="null" target="null" text="null" title="null">first Bitcoin purchase</a>, the company’s shares have performed well after disclosing additional investments in Bitcoin. On Oct. 15, Metaplanet shares <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/metaplanet-stock-jumps-after-107-bitcoin-buy" rel="null" target="null" text="null" title="null">jumped by 16%</a> after purchasing 107 BTC.
The company’s shares currently trades at 1,150 JPY, about $7.5. Google Finance data showed that the stock increased by 505.26% in 2024.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/india-bitcoin-ban-bingx-hacker-lazarus-asia-express/" rel="null" target="null" text="null" title="null">India mulls new crypto ban to support CBDC, Lazarus Group strikes again: Asia Express</a>

Metaplanet becomes Asia’s second-largest corporate Bitcoin holder

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