Japanese investment firm Metaplanet Inc. continues to expand its Bitcoin holdings, acquiring an additional 108.7 bitcoins for roughly $6.7 million, bringing its total to 639.5 BTC, valued at approximately $40.6 million. This strategic purchase is part of Metaplanet’s treasury strategy, which focuses on using Bitcoin as a reserve asset to strengthen the firm’s financial base amid an unpredictable economic environment.
A Strategic Move Amid Rising Bitcoin Prices
Metaplanet’s recent acquisition follows a steady buying pattern over recent months, reflecting the company’s belief in Bitcoin’s long-term value. The company’s latest purchase was executed at an average price of ¥9.19 million ($61,880) per bitcoin. In previous announcements, Metaplanet emphasized its goal of increasing Bitcoin exposure, viewing it as a strategic asset in line with other major corporate investors like MicroStrategy.
In addition to purchasing Bitcoin directly, Metaplanet has also explored options trading to boost holdings. Last week, the firm earned 23.9 BTC (around $1.52 million) through options trading, which it aims to use to increase its Bitcoin reserves further.
Market Impact and Corporate Strategy
Metaplanet’s aggressive Bitcoin acquisition strategy has attracted attention in the financial sector, as it represents a broader trend of corporations using cryptocurrency as a hedge against inflation and economic instability. The Tokyo-listed firm’s stock surged 11% following the latest purchase announcement, reflecting investor confidence in its approach.
As Bitcoin prices fluctuate, Metaplanet’s strategy underscores the growing trend of companies integrating digital assets into their financial planning to diversify and potentially secure a stable financial future.
Source: The Block