Metaplanet Inc., a Japanese investment firm listed on the Tokyo Stock Exchange, has made another significant purchase of Bitcoin, expanding its cryptocurrency portfolio. On Monday, the firm announced that it had acquired an additional 108.786 Bitcoins for 1 billion yen (approximately $6.7 million). This new purchase brings Metaplanet’s total Bitcoin holdings to 639.503 BTC. The value of these tokens is $40.6 million based on current market prices.
The latest acquisition was done at an average rate of 9.19 million yen ($61,880) per Bitcoin. This brings the firm’s total average purchase cost of all its Bitcoins to 9,320,000 yen ($62,789) per Bitcoin.
This new purchase further solidifies Metaplanet’s ongoing and expanding focus on Bitcoin. Only a week ago, on October 1, the firm bought 107.913 Bitcoins for approximately 1 billion yen ($9.6 million). This prior acquisition took Metaplanet’s total holdings of Bitcoins to about 530. With the addition of the new 108.786 Bitcoins in the firm’s balance, the firm’s total Bitcoin portfolio has gone past 639 BTC.
Metaplanet Follows Global Trend in Diversifying Portfolio with Bitcoin Investments
Metaplanet started purchasing Bitcoin earlier this year and announced in May that it would use Bitcoins as part of the treasury reserve. This decision was quite strategic for the company because it follows a recent global shift by institutional investors and corporations to diversify their portfolios by investing in digital currencies.
The firm’s recent purchase of Bitcoins shows that it has not lost confidence in the future of the Bitcoin market. As Metaplanet invests a significant part of its reserves in Bitcoin, it is preparing for the further popularisation of the cryptocurrency asset class, which many investors consider protection against fluctuations in traditional markets.
Of course, Metaplanet’s acquisitions are impressive, but they are still relatively minor compared to true corporate giants. Data from BitcoinTreasuries shows that MicroStrategy, owned by Michael Saylor, remains BTC’s largest corporate holder, with 252,220. Marathon Digital has the second largest reserve of Bitcoin, with 26,842 BTC.
These continuous purchases align with the overall trends in financial management, where Bitcoin and similar assets have become part of institutional portfolio investments. Lastly, the number of firms willing to follow this example is still limited. However, as the cryptocurrency market develops, more companies will follow Metaplanet’s example.
