Metaplanet Buys 5,268 BTC, Becomes Fourth Largest Public Holder

Its total holding now stands at 30,823 BTC, which makes it the fourth-largest publicly traded Bitcoin treasury company ￰0￱ announcement was made after its record-breaking $632 million acquisition just weeks ago and comes alongside strong Q3 ￰1￱ the same time, lawmakers in Massachusetts are considering their own Bitcoin reserve ￰2￱ Adds More Bitcoin Japanese Bitcoin treasury firm Metaplanet made another massive addition to its crypto holdings, and announced that it bought 5,268 BTC for 91.6 billion yen ($623 million). The purchase price equated to roughly 17.4 million yen, or $118,328, per ￰3￱ this acquisition, the company now holds a total of 30,823 BTC, which makes it the world’s fourth-largest publicly traded Bitcoin treasury ￰4￱ to CEO Simon Gerovich, only Strategy, MARA Holdings, and XXI hold larger ￰5￱ announcement was made just days after Metaplanet disclosed its largest single Bitcoin acquisition to date on Sept. 21, when it bought $632 million worth of ￰6￱ said in a Wednesday post on X that the Q3 earnings and recent purchases prove the firm’s scalability and reinforce the foundation for its long-term treasury goals.

Metaplanet’s Q3 financial results also shed some light on the momentum behind its ￰7￱ company reported revenue of 2.438 billion yen ($16.5 million), a 115.7% increase from ￰8￱ pointed out that this performance supports Metaplanet’s plan to issue preferred shares as part of a larger $1.4 billion capital ￰9￱ company previously announced that it will issue 385 million new shares, with the proceeds dedicated to even more Bitcoin ￰10￱ addition, its board recently approved the creation of a US subsidiary, Metaplanet Income Corp., which will focus on scaling a “Bitcoin income generation” business that includes derivatives and other related financial ￰11￱ the bold expansion, the company’s stock faced short-term ￰12￱ shares dropped 10.26% in Tokyo, which extended a 38% decline over the past month.

However, the company is still up more than 48% ￰13￱ contrast, US-traded shares under the ticker MTPLF gained 8.86% to close at $3.96 on Tuesday. Metaplanet’s share price over the past 24 hours () Metaplanet’s ongoing accumulation and structural expansion suggest that the company is doubling down on its role as a leading corporate player in the Bitcoin ecosystem, despite the fact that short-term market reactions are ￰14￱ Weighs Bitcoin Reserve It is not just companies planning on loading up on ￰15￱ in Massachusetts are preparing to weigh in on a proposal that could place the state among a growing group of US jurisdictions considering Bitcoin as part of their financial ￰16￱ state’s Joint Revenue Committee is set to hold a hearing on a bill that was first introduced in February by Republican Senator Peter Durant, which would establish a Bitcoin strategic ￰17￱ legislation will allow the state to deposit any Bitcoin or other digital assets seized by the commonwealth into the reserve and authorize the treasury to allocate up to 10% of the Commonwealth Stabilization Fund for crypto ￰18￱ of the proposed Bill The push is part of the trend among Republican lawmakers in multiple states advocating for Bitcoin as part of government holdings.

However, the bill faces an uphill battle in Massachusetts, where Democrats hold a supermajority in both the House and Senate, as well as control of the governor’s ￰19￱ state’s entire congressional delegation is also Democratic, which casts some doubt on whether a Republican-led initiative has a realistic path to passage. Durant’s proposal is similar to efforts across the country where states consider whether to follow the federal government’s ￰20￱ March, President Donald Trump signed an executive order establishing a national stockpile of Bitcoin and other cryptocurrencies, partly sourced from seized ￰21￱ Republicans are currently seeking to codify that order into law through the BITCOIN ￰22￱ far, only a few states, including Texas and New Hampshire, actually enacted laws to hold Bitcoin ￰23￱ like Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming rejected or failed to advance similar proposals in ￰24￱ bills in Michigan and Ohio are still under ￰25￱ Massachusetts, the decision to explore a Bitcoin reserve proves that there is at least some growing interest in digital assets as a hedge against ￰26￱ strategy was popularized by corporate players like Michael Saylor’s Strategy, which has been steadily expanding its Bitcoin ￰27￱ upcoming hearing will determine whether Massachusetts might move in the same direction or stall like other states have done.