Japan’s Metaplanet Expands Bitcoin Holdings with New $2.5 Million Investment

Jimmy Aki
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Metaplanet, a publicly-listed investment and consulting firm headquartered in Japan, has acquired 42,466 BTC, amounting to approximately $2.5 million as of July 8. Metaplanet Bitcoin purchase comes amidst the volatile cryptocurrency markets and decline of BTC price.

Metaplanet Bitcoin Stash at 203,734 BTC Amid Price Fall

Metaplanet announced via its official platform that it has added approximately 42,466 BTC to its holdings, valued at 400 million yen ($2.5 million), with an average purchase price of 9.41 million yen per BTC.

As a result, Metaplanet now holds a total of 203,734 Bitcoins, valued at $12.7 million, averaging a purchase price of 10.06 million yen per Bitcoin.

This purchase comes amid a broader crypto market decline, where BTC has fallen to $54k, as the crypto Fear and Greed index currently sits at ’28,’ reflecting market fear.

Metaplanet Bitcoin
BTC price signals a fear market zone

An insight into the current Bitcoin market shows that the asset has faced significant price fluctuations. At press time, it trades at $56.4K, marking a 0.73% and 10.70% decline in the last 24 hours and seven days, respectively.

Metaplanet Bitcoin
BTC price is at $56.4K

Looking ahead, Bitcoin hovered between $54,320 and $57,915 within 24 hours, which still falls 23.43% short of its peak of $73,737 in March 2024.

Experts view Metaplanet’s recent Bitcoin acquisition as a strategic move capitalizing on the current lower BTC prices, anticipating significant returns in the months ahead as the market potentially rebounds.

Furthermore, as part of its global expansion and Bitcoin accumulation strategy, Metaplanet recently established a subsidiary, Metaplanet Capital Limited, in the British Virgin Islands.

Dylan LeClair, Metaplanet Bitcoin Strategy Director, has also disclosed the potential for more Bitcoin purchases in Japan. In a recent podcast, he noted that Japan presents a unique opportunity for corporate strategy and growth.

It should be noted that this acquisition came amid continuous selloffs from the German government as they transferred 1,500 BTC valued at $95 million to different exchanges on July 1.

Insights into Metaplanet & Other Corporate Bitcoin Holders

Last week, Metaplanet executed a strategic move by purchasing 20,195 BTC, equivalent to 200 million yen at the time. This investment was part of its larger plan to allocate 1 billion yen towards Bitcoin, a commitment financed through a bond sale conducted on June 26.

Drawing comparisons to MicroStrategy, a prominent business intelligence firm renowned for its early and substantial Bitcoin investments, Metaplanet has earned the moniker “the MicroStrategy of Japan.”

MicroStrategy began its investment into Bitcoin in 2020, positioning the cryptocurrency as an inflation hedge and an alternative to traditional cash holdings. It ranks as the third global largest corporate holder of BTC, boasting 226,331 Bitcoins acquired at an average cost of $35,158 per BTC, which amounts to a staggering $7.538 billion in total investment.

The firm comes behind spot BitcoinETFs issuers BlackRock and Grayscale.

https://twitter.com/lexibtceth/status/1810313399055896829?s=46

Despite recent downward movements in Bitcoin’s market value, the ongoing accumulation efforts by companies like Metaplanet and MicroStrategy pinpoint Bitcoin’s role as a reliable store of value and a strategic hedge against economic volatility and inflationary pressures.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.