Metaplanet Takes Steps to Acquire More Bitcoin (BTC)

Japanese publicly traded company Metaplanet Inc. is intensifying its Bitcoin (BTC) strategy, having recently announced another wave of purchases.

### Metaplanet Expands Its Holdings

According to recent updates, Metaplanet has acquired a total of 20.195 Bitcoin at an average price of 9,903,440 yen per BTC. This latest acquisition is valued at approximately 200 million yen, equivalent to about $1,242,180.

The company initiated its Bitcoin accumulation strategy earlier this year, inspired by MicroStrategy’s approach. Metaplanet has now become the first publicly listed corporation in Asia to fully integrate Bitcoin as a part of its treasury reserves.

Metaplanet’s commitment to its Bitcoin strategy appears to be more consistent than that of MicroStrategy. Sources indicate that the company has been making Bitcoin purchases almost every other month.

Following this recent transaction, Metaplanet has increased its Bitcoin holdings to 161.2677 BTC, with an average cost per unit of 10,231,438 yen. The total market value of its Bitcoin portfolio now stands at around 1.65 billion yen, or $10.24 million.

Like MicroStrategy, Metaplanet also financed part of its Bitcoin acquisitions through debt. The company previously issued one billion yen in bonds on June 24, with the proceeds directed toward further Bitcoin investments.

### A Bold Commitment to Bitcoin

While MicroStrategy’s Bitcoin investments typically involve higher dollar amounts due to its larger scale, Metaplanet’s strategy is equally bullish. To enhance its focus on Bitcoin, the firm has established an offshore subsidiary in the British Virgin Islands. This new entity will facilitate Bitcoin purchases and manage related business activities, as detailed in their filings.

With this latest acquisition, Metaplanet is playing a significant role in generating increased interest in Bitcoin, a trend that may soon be adopted by other multinational corporations in Asia.