Metaplanet Completes $6.26M Bitcoin Purchase Plan

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Japanese investment firm Metaplanet finalizes its billion-yen Bitcoin acquisition strategy, purchasing an additional 20.38 BTC worth $1.2 million, bringing its total holdings to 245.99 BTC valued at $16.5 million.

Metaplanet, a Japanese investment and consulting firm, has announced the completion of its ambitious Bitcoin purchase plan, acquiring an additional 20.38 BTC worth approximately $1.2 million (200 million yen). This final purchase marks the fulfillment of the company’s June announcement to invest 1 billion yen (about $6.26 million) in Bitcoin through a bond issuance.

The latest acquisition, made on July 22, saw Metaplanet buy 20.38 BTC at an average price of 9,813,061 yen ($62,574) per Bitcoin. This transaction brings the company’s total Bitcoin holdings to 245.99 BTC, valued at $16.5 million at current market prices. Throughout the entire purchase plan, Metaplanet acquired 104.91 BTC at an average price of 9,531,162 yen (about $60,700) per Bitcoin.

Metaplanet’s commitment to Bitcoin has had a significant impact on its stock performance. Following the announcement of the completed purchase plan, the company’s shares surged by 19.31% to 173 yen ($1.10). More impressively, since Metaplanet’s initial Bitcoin investment announcement on April 8, its stock price has skyrocketed from approximately $0.12 to $1.10, representing an astounding 810% increase.

The company’s strategy aligns with its stated policy to “hold Bitcoin for the long term.” Metaplanet’s approach has drawn comparisons to business intelligence firm MicroStrategy, known for its substantial Bitcoin investments. Jason Fang, founder of Sora Ventures, has dubbed Metaplanet “Asia’s first MicroStrategy,” highlighting the company’s role in providing Japanese investors with exposure to Bitcoin.

Metaplanet’s Bitcoin adoption began on April 8, when it announced a $6.5 million commitment to BTC as a core treasury asset. The firm described this move as a milestone in positioning itself as a “pioneer in the adoption of digital assets in Japan.”

As Metaplanet completes its billion-yen Bitcoin purchase plan, the company’s bold strategy appears to be paying off, both in terms of asset acquisition and market perception. The firm’s success could potentially inspire other Asian companies to consider similar Bitcoin investment strategies in the future.