Japan’s MicroStrategy Metaplanet buys $6.5M more Bitcoin
Metaplanet — a Tokyo-listed investment firm focused on accumulating as much Bitcoin (BTC) as possible — just acquired an additional ¥1 billion ($6.5 million) of the coin.
Metaplanet acquired just under 109 BTC, according to an Oct. 11 announcement. This brings the total held by the company to 748.5 BTC at an average purchase price of 9,304,655 yen per Bitcoin — or just over $62,550 at the time of writing.
Currently underwaterConsidering Bitcoin’s current price of $60,680 according to CoinMarketCap data, the company’s investment is currently nearly 3% down. So far, Metaplanet has spent ¥6.965 billion on Bitcoin, worth under $47 million at the time of writing.
This is not the first time that Metaplanet has acquired more Bitcoin this month. On Oct. 1 the firm announced the acquisition of 107.913 BTC for about $6.9 million at an average price of 9.26 million yen ($64,168) per BTC.
Metaplanet is often compared to its United States-based older brother MicroStrategy. The U.S. company was founded back in 1989 and provided business intelligence, mobile software, and cloud-based services before pivoting to accumulating Bitcoin in 2020.
According to data gathered by Bitcoin Treasuries by BitBo, MicroStrategy currently holds 252,220 BTC worth $15.35 billion at the time of writing. This is equivalent to over 1.2% of all the 21 million Bitcoin that will ever be created.
Metaplanet was founded back in 2011 as an early-stage venture capital firm and adopted Bitcoin as its strategic treasury reserve in May 2024, much more recently than Microstrategy. The announcement read:
“Metaplanet has adopted Bitcoin as its strategic treasury reserve asset. […] Metaplanet’s strategy unequivocally prioritizes a Bitcoin-first, Bitcoin-only approach for the Company, with the potential use of long-dated yen liabilities and periodic share issuances as strategic financial options to continually accumulate more Bitcoin instead of retaining the ever-weaker yen.”
Metaplanet’s stock went from ¥300 at the time of the announcement to the current price of ¥955 as of writing. This represents a 218% increase that still pales in comparison to a tenfold increase to the ¥3,000 price reported back in late July.
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