Metaplanet has expanded its Bitcoin holdings to 2,888 BTC with a $43.9 million purchase, buying the dip twice in just two days as part of its aggressive accumulation strategy.
Recent Bitcoin Purchases
Metaplanet, a Japan-based investment firm, has expanded its Bitcoin holdings by purchasing an additional 497 BTC for $43.9 million. The latest acquisition raises the firm’s total Bitcoin reserves to 2,888 BTC as it continues its aggressive accumulation strategy.
Just a couple of days ago the company revealed that it had bought the dip when the price of BTC fell down to $87,000. On March 3, Metaplanet disclosed that it had acquired 156 BTC for $13.4 million at an average price of $85,590 per Bitcoin.
Following this, the firm proceeded with another purchase on March 5, securing 497 BTC at an average price of $88,448 per Bitcoin. As a result, Metaplanet’s total Bitcoin holdings now amount to $196.3 million, with an average purchase price of $82,100 per BTC.
Strategic Bitcoin Accumulation
Metaplanet has been consistently increasing its Bitcoin reserves since announcing its Bitcoin acquisition strategy in April 2024. The firm formally designated Bitcoin treasury operations as a core business line in December. With long-term goals in mind, the Tokyo-based company aims to accumulate 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
The firm’s aggressive Bitcoin strategy has also influenced its stock performance, with Metaplanet shares rising 17% in Japan on Wednesday. Meanwhile, the Nikkei 225 index recorded a 0.55% gain during the day’s trading session.
Potential U.S. Market Expansion
Metaplanet’s growing presence has attracted interest from international financial markets. Simon Gerovich, CEO of Metaplanet, revealed that the company has been invited by the New York Stock Exchange (NYSE) and Nasdaq to explore potential listings.
Gerovich posted on X,
“We are considering the best way to make Metaplanet shares more accessible to investors around the world.”
Stock Acquisition Initiative for Bitcoin Expansion
In November 2024, Metaplanet unveiled plans to raise 9.5 billion yen (approximately $62 million) through a stock acquisition initiative. The funding, acquired via third-party allotment to EVO Fund, is expected to support the firm’s Bitcoin acquisitions. The issuance, totaling 29,000 units, is set to run from December 16, 2024, to June 16, 2025, pending regulatory approval under Japan’s Financial Instruments and Exchange Act.
Metaplanet has emphasized that a substantial portion of the funds will be allocated toward purchasing additional Bitcoin. With it trading at around $87,000, the firm has the potential to acquire several hundred more of the crypto, further strengthening its digital asset holdings amid a weakening yen and Bitcoin’s increasing prominence in global markets.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.