Tokyo-based investment firm Metaplanet has deepened its commitment to Bitcoin by purchasing an additional 160 BTC for $13.3 million, just one day after its largest purchase to date.
Metaplanet Expands Bitcoin Presence with $13 Million Purchase, Now Holds 4,206 BTC
The company, which is listed on the Tokyo Stock Exchange, announced today that it purchased BTCs at an average price of $83,264 per coin, bringing its total assets, worth approximately $359.8 million at the time of the purchase, to 4,206 BTC.
This purchase follows Tuesday’s announcement that the firm purchased 696 BTC, marking its most aggressive accumulation to date.
Since announcing its Bitcoin accumulation strategy in April 2024, Metaplanet has rapidly expanded its holdings and is now the ninth-largest public institutional Bitcoin holder worldwide and the largest in Asia, according to data from BitcoinTreasuries.net.
The company has set an ambitious target of 10,000 BTC by the end of 2025 and aims to double that to 21,000 BTC by the end of 2026.
Despite the aggressive Bitcoin accumulation, Metaplanet's shares fell 0.98% in morning trading on Wednesday, while Japan's Nikkei 225 index was flat.
*This is not investment advice.
