Metaplanet Continues Bitcoin Purchases, Adding 21.88 BTC to Portfolio

Japanese publicly traded company Metaplanet Inc. is continuing its aggressive acquisition strategy, recently announcing another purchase. The firm has added 21.88 BTC to its portfolio at a cost of 200 million yen, which is approximately $1.26 million.

### Another Bold Move by Metaplanet

This year, Metaplanet adopted its Bitcoin for Treasury Asset Policy and has consistently purchased BTC at least twice a month. The latest acquisition occurred amidst fluctuating Bitcoin prices, caught between bearish and bullish pressures. With this new addition, Metaplanet’s total BTC holdings have reached 225 coins, purchased for an average of 9,972,933 yen, bringing the total investment to 2.25 billion yen, or about $14.2 million.

Metaplanet’s strategy mirrors that of MicroStrategy, demonstrating that any company confident in Bitcoin’s potential can embrace a similar approach. This Bitcoin strategy is accessible to companies worldwide, as the cryptocurrency operates without government restrictions.

These acquisitions have contributed to maintaining Bitcoin’s price within a range of $53,717.38 and $67,188.32 over the past month.

### Will Metaplanet Continue Its Buying Spree?

Despite its relatively smaller capital and profit margins, Metaplanet appears committed to increasing its BTC holdings, potentially to enhance its capital in the long term. The firm’s rationale for such an aggressive Bitcoin strategy remains unclear, but it has notably followed MicroStrategy’s lead by issuing bonds to fund BTC purchases. It seems likely that Metaplanet will persist with its Bitcoin acquisitions until some of its investments yield a satisfactory profit.