- Metaplanet bought additional Bitcoins for millions of dollars.
- The development marked the companyโs second purchase in less than a month.
- It followed other massive Bitcoin purchases by corporations, underscoring the crypto assetโs growing appeal.
Japanese investment firm Metaplanet announced today its second multimillion-dollar Bitcoin acquisition in less than a month, underscoring the companyโs commitment to the original cryptocurrency as part of its corporate strategy.
Metaplanetโs initial foray into the crypto landscape started in May this year when the Tokyo-listed company pivoted to a โBitcoin-first, Bitcoin-onlyโ approach in direct response to sustained economic pressures in Japan. Two months later, on July 30, the company joined the MicroStrategy-led โBitcoin for Corporationsโ initiative as a strategic partner.
Metaplanet Advances Bitcoin Accumulation Strategy
According to a notice issued on November 19, Metaplanet recently bought 112.117 BTC for 1.7 billion yen (about $11.3 million) as part of its ongoing accumulation strategy to enhance shareholder value through the worldโs largest crypto asset by market cap.
Sponsored
The newly acquired Bitcoins were purchased at an average price of 14,099,600 yen ($91,707) per Bitcoin using proceeds from issuing one-year ordinary bonds totaling 1.75 billion yen ($11.3 million). Announced on November 17, the bonds carry an annual interest rate of 0.36% and are set to mature after one year.
The purchase elevated Metaplanetโs total Bitcoin holdings to 1,142 BTC, positioning it as the 18th largest corporate holder of the original crypto, according to BitcoinTreasuries data. Per the notice, the company has attained a BTC yield of 41.7% since it adopted Bitcoin.
Metaplanetโs latest Bitcoin acquisition came as the crypto asset increasingly attracts institutional interest, especially after its recent surge to new all-time highs following Donald Trumpโs decisive victory in the U.S. presidential elections.
On November 18, MicroStrategy made headlines with an aggressive $4.6 billion Bitcoin acquisition and a declaration to acquire more of the crypto asset. Health tech service provider Semler Scientific also bought 215 BTC for $17.7 million in cash on Monday.ย
Read why this Polish presidential hopeful wants to emulate Trumpโs pro-Bitcoin stance:
Polish Presidential Hopeful Vows Bitcoin Reserve in Likely Trump-Led Trend
Stay updated on Semler Scientificโs latest Bitcoin purchase:
Semler Scientific Reaffirms Bitcoin Commitment with Fresh Purchase
