Japanese Investment Company Metaplanet Announces Bitcoin Purchase
Japanese investment company Metaplanet announced on Monday (the 18th) that it has spent 13.733 billion yen (approximately 93 million dollars) to acquire an additional 775 bitcoins as part of its Bitcoin financial operations, with an average purchase price of 17,720,023 yen (about 120,006 dollars).
As of August 18, Metaplanet holds a total of 18,888 bitcoins (valued at approximately 2.17 billion dollars based on the current bitcoin price of around 115,200 dollars). According to Metaplanet’s CEO Simon Gerovich, the total purchase cost of these bitcoins is approximately 1.94 billion dollars, with an average purchase price of about 102,653 dollars.
Originally, Metaplanet was a company focused on developing Web3 and metaverse technologies while also operating in the hospitality 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 original Bitcoin reserve target, aiming to hold 210,000 bitcoins by the end of 2027.
According to data from Bitcointreasuries.net, Metaplanet ranks as the seventh-largest publicly listed company by Bitcoin holdings in the world. The top rank is held by Michael Saylor’s Strategy (formerly MicroStrategy), which holds a total of 628,946 bitcoins valued at approximately 72.4 billion dollars.