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Metaplanet bought 775 BTC for $93M, bringing total holdings to 18,888 BTC.
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Its Bitcoin treasury is now worth $2.17B despite a weekend price dip.
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Analysts warn of volatility and equity dilution risks from its aggressive buying strategy.
New Purchase Strengthens Treasury
Tokyo-listed Metaplanet Inc. added 775 BTC to its corporate treasury on Monday, spending $93 million at an average price of $120,000 per coin. This brings its total holdings to 18,888 BTC, worth about $2.17 billion. The firm’s average purchase price now stands at $102,000 per Bitcoin.
Corporate Pivot and Strategy
Metaplanet was once a hotel operator but reinvented itself after the pandemic by adopting a corporate Bitcoin strategy. The move mirrors MicroStrategy’s playbook in the U.S., with Metaplanet now positioning itself as one of Asia’s largest corporate holders of Bitcoin.
Market Impact and Risks
Analysts say consistent corporate buying could tighten liquidity and add short-term volatility. However, risks remain, including potential equity dilution from share-funded BTC purchases and the financial strain of Bitcoin’s price swings on the balance sheet. Metaplanet recently filed plans to raise $3.7 billion through a stock offering to continue its aggressive accumulation.
