Metaplanet, a Tokyo-listed investment firm, has decided to splash the cash once again by acquiring an additional 1,004 bitcoin (BTC) for a cool $104.3 million. This move has lifted their total holdings to a staggering 7,800 BTC, with an average purchase price of $91,300 per BTC. The recent purchase was made at a price of $103,873 per bitcoin, as revealed in a disclosure on Monday. The firm seems to have a knack for timing, as the broader crypto market has been on the rise in recent weeks, with bitcoin trading just below its all-time high at around $103,343.
Metaplanet isn’t stopping there though, as they have their sights set on reaching 10,000 BTC before the year 2025 comes to a close. To fuel their acquisitions, the company has been turning to bond sales to raise funds. In fact, they recently completed their 15th ordinary bond issuance worth a cool $15 million. The strategy seems to be paying off, with their current holdings valued at over $806 million based on current market prices. This treasury strategy seems to be inspired by firms like Strategy (MSTR), and it’s certainly working out well for Metaplanet.
It’s not really clear why buying up so much bitcoin is such a big deal, but Metaplanet seems to be onto something with their aggressive acquisition strategy. The company started acquiring bitcoin back in April 2024, and they have been steadily increasing their holdings ever since. With the crypto market showing signs of strength and bitcoin inching closer to its all-time high, it seems like Metaplanet’s timing couldn’t be better. Who knows, maybe they’ll hit their goal of 10,000 BTC sooner than expected. So, if you’re looking for a sign to jump on the bitcoin bandwagon, this might just be it.
