Metaplanet Expands Bitcoin Treasury After Latest $112M Buy

Metaplanet, Japan’s leading Bitcoin (BTC) treasury firm, has made another big move in the cryptocurrency ￰0￱ company shared on September 1 that it had bought 1,009 BTC for 16.48 billion yen, worth about $112 ￰1￱ Climbs to Sixth-Largest Bitcoin Holder with 20,000 BTC ￰2￱ data revealed that this latest buy has pushed Metaplanet to rank the sixth-largest public company holding the flagship crypto, overtaking Riot ￰3￱ Tokyo-based firm now holds 20,000BTC in its ￰4￱ to the disclosure, the coins were acquired at an average price of around $111,068 ￰5￱ achievement also highlights how quickly Metaplanet is growing its ￰6￱ than three months ago, it held 10,000 ￰7￱ this year, the company raised its year-end target to 30,000 Bitcoin, tripling its original goal of 10,000.

This move underlines Metaplanet’s commitment to building one of the largest corporate Bitcoin treasuries in the ￰8￱ Unveils $880M Bitcoin Push, Eyes Broader Growth Strategy Metaplanet is not slowing ￰9￱ last week, the company revealed plans to raise 130 billion yen, equivalent to about $880 million, through an international share ￰10￱ of the funds will be used to buy more Bitcoin over the next two ￰11￱ Simon Gerovich has also shared longer-term ￰12￱ said the firm may borrow against its crypto reserves in the future to acquire cash-generating ￰13￱ bold plan shows that Metaplanet views Bitcoin as a store of value and also as a foundation for wider business growth.

Metaplanet’s aggressive Bitcoin strategy mirrors the approach pioneered by Michael Saylor, the Chairman and co-founder of ￰14￱ 2020, Saylor began shifting his company’s balance sheet into Bitcoin, setting a trend that reshaped how corporations view the asset. Today, the U. S.-based firm holds close to 700,000 BTC, making it the largest corporate Bitcoin treasury holder in the ￰15￱ following a similar path, Metaplanet is positioning itself as Asia’s leading player in corporate Bitcoin ￰16￱ Reactions and Stock Performance Despite the bold move, Metaplanet’s Tokyo-listed shares dropped ￰17￱ to Yahoo Finance data, the share price dipped by 2.62% on Monday morning while markets were still open.

However, the company’s U. S.-listed stock MTPLF closed last Friday up 0.83% at $6.11. Meanwhile, the top coin asset itself is facing pressure in the crypto market, as it has dropped significantly from its July all-time ￰18￱ the time of writing, Bitcoin’s price is trading at $108,776, up 0.35% in the past 24 hours, according to CoinMarketCap ￰19￱ bearish trajectory comes as many naysayers are scrutinizing Bitcoin, writing it off as dead. However, many market experts see the top coin’s recent pullback not as a market bottom but rather as more potential downside .