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The Japanese public firm adopting the investment strategy pioneered by leading Bitcoin (BTC) corporate holder Strategy is now closer to reaching its goal of holding 10,000 of the flagship cryptocurrency.
On Thursday, Metaplanet announced the acquisition of an additional 145 Bitcoin.
The hotel and investment company bought the crypto asset for 13,280,472 yen, or around $92,885, per coin for a total of 1.926 billion yen ($13.473 million).
“The Company has strategically increased its Total Bitcoin Holdings through acquisitions funded by capital market activities and operating income.”
The recent purchase brings Metaplanet’s crypto holdings to 5,000 BTC, or half of the 10,000 BTC that it aims to own by this year.
Says Metaplanet chief executive Simon Gerovich,
“We have reached 50% of our initial goal of 10,000 BTC by the end of 2025. This is a big step forward in our aim to become one of the world’s leading Bitcoin holding companies. We will lead the global bitcoin race from Japan.”
Metaplanet says it invested 64.091 billion yen, or around $448.26 million, for its aggregate Bitcoin stash at 12,818,168 yen ($89,671) per BTC.
The company says it is buying the top crypto asset as part of its Bitcoin Treasury Operations, which became its official business line on December 18th, 2024. The target is to reach 21,000 BTC in holdings by the end of 2026.
