Japanese Investment Company Metaplanet Announces Bitcoin Purchase
Japanese investment company Metaplanet announced on Tuesday (12th) that it has spent approximately 9.086 billion yen (around 61.4 million USD) to acquire 518 bitcoins as part of its bitcoin financial operations, with an average purchase price of 17,540,861 yen (about 118,519 USD).
As of August 12, Metaplanet holds a total of 18,113 bitcoins (valued at approximately 2.155 billion USD based on the current bitcoin price of about 119,000 USD). According to Metaplanet CEO Simon Gerovich, the total cost of acquiring these bitcoins is approximately 1.85 billion USD, with an average purchase price of around 101,911 USD.
Originally, Metaplanet was a company focused on developing Web3 and metaverse technologies while operating in the hotel industry. It later transformed into a bitcoin financial enterprise in April 2024, adopting bitcoin as its core financial reserve asset to hedge against Japan’s debt burden and the resulting volatility of the yen. Last month, Metaplanet revised its initial bitcoin reserve target, planning to hold 210,000 bitcoins by the end of 2027.
According to data from Bitcointreasuries.net, Metaplanet is the sixth-largest publicly traded company in terms of bitcoin holdings globally. The largest is Michael Saylor’s Strategy (formerly MicroStrategy), which holds a total of 628,946 bitcoins, valued at approximately 74.8 billion USD.