Metaplanet Acquires $6.6 Million in Bitcoin, Emulating MicroStrategy's Corporate Strategy

Coin Prices are on the move. Recently, Metaplanet, a Japanese investment firm, made headlines by acquiring an additional 107.913 Bitcoin (BTC) for 1 billion yen, which is about $6.6 million. They bought these coins at an average price of 9,266,724 yen, or roughly $61,932 each.

With this latest purchase, Metaplanet now holds a total of 506.745 Bitcoin. Their total investment in Bitcoin has reached 4.75 billion yen, translating to around $31.8 million. The average price they paid for each Bitcoin is 9,373,557 yen, or $62,712. Currently, their Bitcoin holdings are valued at $24 million, making up nearly 20% of their $125 million market cap.

Metaplanet started this aggressive Bitcoin buying strategy back in April 2024. They described this shift as a "strategic pivot." The company's leadership believed investing in Bitcoin was "the most valuable thing we can do for our shareholders." Initially, this strategy paid off. Metaplanet's stock price jumped from $1.32 (¥190) to a peak of $7.01 (¥1,008). However, even though it briefly hit $20.95 (¥3,000) in late July, the stock has since pulled back. Right now, it’s trading at $7.01 (¥1,008), according to Google Finance.

Metaplanet’s approach is similar to that of MicroStrategy, a U.S. software firm known for its large Bitcoin holdings. In fact, Metaplanet even called itself "Asia's first MicroStrategy" when it announced its Bitcoin strategy. Under the guidance of Bitcoin advocate Michael Saylor, MicroStrategy has accumulated around $15.9 billion in Bitcoin, totaling 252,220 BTC. This makes MicroStrategy one of the largest corporate holders of Bitcoin, accounting for over 1% of the total supply.

Metaplanet’s Bitcoin acquisition fits into a broader trend of companies integrating crypto assets into their long-term investment strategies. Besides MicroStrategy, Tesla made waves in 2021 when it invested $1.5 billion in Bitcoin, though it later sold a portion to diversify its portfolio. Square (now Block Inc.) has also embraced Bitcoin, purchasing $50 million in 2020 and another $170 million in 2021. PayPal has entered the crypto space too, allowing users to buy, hold, and sell cryptocurrencies. This shows growing confidence in digital assets among corporations.

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