Japanese investment company Metaplanet has made headlines again with its latest Bitcoin (BTC) purchase
Notably, this marks another major milestone in its growing cryptocurrency portfolio. The current market outlook indicates that Metaplanet’s stock price surged to a three-month high following the announcement.
Metaplanet Strengthens Position with $104 Million Bitcoin Bet
Metaplanet has purchased 1,004 Bitcoin, spending around 15.2 billion yen, or approximately $104.6 million. This marks the company’s second-largest single buy of the digital asset. The move brings its total Bitcoin holdings to 7,800 BTC, currently valued at around $807 million.
As mentioned in our recent news brief, the company’s share price shot up by 15% to JPY 712, extending its monthly gains to over 100%. In addition, the buy-up happened as Bitcoin hovered near its all-time high, staying within 3% of its record. MarketCap data shows that the largest cryptocurrency, Bitcoin, is currently trading at $103,087.51, down 0.67%.
It is worth noting that this recent purchase comes shortly after a major acquisition on May 12, when Metaplanet bought 1,241 BTC for $129 million. That transaction pushed the company’s total holdings beyond El Salvador’s BTC stash, placing the firm among the largest Bitcoin holders globally.
According to figures from BiTBO, Metaplanet now holds more Bitcoin than any other publicly traded company in Asia. Globally, it ranks tenth in terms of public firm holdings. If it adds just 301 more BTC to its stash, it would overtake Galaxy Digital Holdings, which sits at ninth place with 8,100 BTC.
Bitcoin Buying Strategy as New High
Metaplanet’s approach to Bitcoin has grown more aggressive in recent months. In May alone, the firm added 2,800 BTC to its reserves. It made four separate purchases in April, totaling 794 BTC, and six buys in March, totaling 1,655 BTC.
The company also reported a strong first-quarter performance, with a Bitcoin yield of 95.6%. For the second quarter so far, the yield stands at 47.8%. This figure tracks the percentage change in Bitcoin holdings per fully diluted share.
While Metaplanet continues to move forward, eyes remain on the business intelligence firm Strategy, which still leads all corporations with 568,840 BTC, valued at around $59 billion. In a recent update, we reported that the company spent around $180.3 million on acquiring 1,895 BTC.
Interestingly, Strategy’s executive chairman, Michael Saylor, hinted at another purchase in a post on X, complementing its weekly buy-ups.
Notably, research from Bitcoin investment firm River shows corporations have become the largest net buyers of Bitcoin this year, outpacing governments, ETFs, and retail investors.
In our last update, we noted that Bahrain’s Al Abraaj Restaurants Group became the first publicly listed company in the Middle East to add Bitcoin to its balance sheet. This move signals growing confidence among corporations in holding Bitcoin as an asset.
In our earlier blog post, streaming giant Rumble also unveiled capital allocation to Bitcoin, with more mainstream firms making the move.