'Japanese MicroStrategy' Metaplanet Bolsters Its Bitcoin Reserves

Japanese early-stage investment company Metaplanet purchased an additional $2 million worth of Bitcoin today, reaffirming the firm's trust in the leading digital asset.

Japanese early-stage investment company Metaplanet purchased an additional $2 million worth of Bitcoin today, continuing its crypto-asset acquisition streak.

The company, which began buying BTC as its strategic treasury reserve asset earlier this year, increased its cryptocurrency holdings by 38.464 BTC, bought for approximately 300 million yen ($2 million). The latest purchase brings Metaplant’s total holdings to 398.832, with a total aggregate cost of 3.75 billion yen ($26 million), averaging slightly above $65,700 per BTC.

Japanese ‘MicroStrategy’ Bolsters Its Bitcoin Reserves

Metaplanet, which is sometimes referred to as the “Japanese MicroStrategy” by local media due to its BTC-first strategy, disclosed on September 10 that its management will exercise the 11th series of stock acquisition rights. The total proceeds from exercise warrants are expected to be around 299.7 million yen ($2.10 million). The company noted that these proceeds will be used to purchase more BTC.

Yesterday, Metaplanet announced the 11th series of stock acquisition rights to be exercised by the company’s management. The total proceeds from exercise warrants are expected to be around 299.7 million yen. These proceeds will be used to purchase BTC. An earlier announcement disclosed that the company’s management will exercise the 10th series of stock acquisition rights, with the total proceeds being used to purchase BTC.

Earlier this year, the company announced the 7th series of stock acquisition rights to be exercised by the company’s management. The total proceeds from exercise warrants are expected to be around 299.7 million yen. These proceeds will be used to purchase BTC. In August, the company announced that it had completed the 9th series of stock acquisition rights, with the total proceeds being used to purchase BTC.

Bitcoin price is up 3.4% in the past 24 hours, trading at $57,159 at press time. Notably, the US Federal Reserve is expected to begin its rate-cut cycle next week, with many expecting the injection of liquidity into the economy to benefit risk-on assets such as Bitcoin.

According to data from Google Finance, Tokyo-listed Metaplanet’s stock was exchanging hands at 1101 yen ($7.7), surging by 5.87% in today’s trading session. On the contrary, the Nikkei 225 index dipped slightly by 0.16%.

Close followers of the crypto industry would remember that it was back in May 2024 when Metaplanet first made public its plans to embrace BTC as its strategic treasury reserve asset. At the time, the company emphasized its new “Bitcoin-first, Bitcoin-only approach,” akin to the strategy adopted by MicroStrategy.

In July 2024, Metaplanet increased its BTC holdings by 20.195, purchased at about $1.2 million according to prevailing market prices. Over the past few months, a series of Bitcoin purchases has brought Metaplanet’s total holdings to almost 400 BTC.

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