Key Points
- Japanese firm Metaplanet has increased its Bitcoin holdings with a latest purchase worth $53.4 million.
- The company plans to expand into the U.S. with a $10 million Treasury Corp in Miami.
Metaplanet, a Japan-based company, has been actively increasing its Bitcoin (BTC) holdings over the past five months, reflecting the growing institutional interest in Bitcoin.
The Tokyo-listed firm recently added 555 BTC to its portfolio, purchased at an average price of $96,134, totaling $53.4 million. This acquisition brings the company’s total Bitcoin holdings to 5,555 BTC, valued around $465 million, with an average entry price of $86,672 per coin.
Metaplanet’s Bitcoin Accumulation Strategy
Since April 2024, when Metaplanet announced its cryptocurrency strategy, the firm has been aggressively accumulating Bitcoin. The company’s goal is to increase its holdings to 10,000 BTC by the end of 2025. To fund these purchases, Metaplanet has been issuing new batches of ordinary shares, with the most recent round raising $25 million.
In addition to its Bitcoin accumulation, Metaplanet plans to expand its presence in the U.S. by opening a branch in Miami and establishing a Treasury Corp in Florida. The company plans to seed this new venture with $10 million in capital, with a goal to scale to $250 million.
Institutional Interest in Bitcoin
The continued Bitcoin acquisition by Metaplanet not only shows the company’s bullish stance but also indicates a growing institutional demand for Bitcoin. Institutions are increasingly viewing Bitcoin as a lucrative and safe long-term investment.
Metaplanet’s Bitcoin-focused strategy has had a positive impact on its stock, which has jumped 11.45% at the time of writing. This increase in stock value underlines investor confidence in the company’s approach and is driving wider confidence in Bitcoin as an investment.
