Metaplanet, a company based in Japan, recently made a significant purchase of Bitcoin, acquiring 21.88 BTC worth ¥200 million (equivalent to $1.26 million). This purchase was made at an average price of ¥9 million per coin, aligning with the company’s plan to invest ¥1 billion in Bitcoin as part of its strategy to adopt the cryptocurrency as a treasury reserve asset.
Following this purchase, Metaplanet’s stock surged by 10% to ¥102. This increase in stock price is attributed to the recent rise in Bitcoin prices, with the company now holding a total of 225.6 BTC. This makes Metaplanet the 21st largest public holder of Bitcoin, with its holdings valued at around ¥2.25 billion ($13.8 million).
The company’s unrealized profit from its Bitcoin holdings is approximately $357 per BTC, totaling around $80,500. This growth in profit reflects the increasing institutional interest in Bitcoin as a strategic treasury asset, with more companies, both large and small, investing in the cryptocurrency to enhance their financial positions.
Metaplanet’s decision to invest in Bitcoin and expand its holdings demonstrates a growing trend among companies to diversify their assets and take advantage of the cryptocurrency’s potential for long-term growth. As more businesses follow suit and incorporate Bitcoin into their investment strategies, the cryptocurrency market is likely to see continued interest and support from institutional investors.
