Metaplanet Inc, a prominent Japanese publicly traded company aspiring to emulate the success of MicroStrategy in Asia, has bolstered its Bitcoin holdings with a recent acquisition. According to an official announcement disclosed on, the firm has procured an additional tranche of 18.8698 BTC.
The acquisition, executed on April 23, carries a valuation of approximately 200 million yen, equivalent to $1.2 million. With this latest purchase, Metaplanet’s aggregate Bitcoin reserves now stand at 117.7217 BTC, valued at 10,193,536 yen per BTC. This Bitcoin treasury amounts to a staggering 1.2 billion yen or $7,708,020.
Metaplanet’s venture into Bitcoin accumulation since April has sparked optimism within Asia’s investment circles, mirroring the excitement ignited in the United States by MicroStrategy’s foray into cryptocurrency in August 2020. Today, MicroStrategy stands as the second-largest corporate holder of Bitcoin globally, trailing only BlackRock Inc (NYSE:BLK).
Under the visionary leadership of Chairman Michael Saylor, MicroStrategy consistently accumulates Bitcoin, with its most recent purchase in March comprising 12,000 BTC for $821.7 million. Presently, the company boasts a substantial reserve of 214,246 tokens valued at approximately $14 billion. According to U.Today, MicroStrategy’s unrealized gains from its Bitcoin investments now tally an impressive $6.2 billion.
MicroStrategy’s bold strategy involves the issuance of Convertible Senior Notes, the proceeds of which are allocated to Bitcoin purchases. This approach has proven fruitful thus far, although Metaplanet’s long-term commitment to this strategy remains undisclosed.
Since Metaplanet’s entrance into the Bitcoin market, the cryptocurrency’s price has experienced fluctuations amid sporadic sell-offs. Nevertheless, the market sentiment has turned bullish once again with the emergence of new mainstream companies embracing Bitcoin. As of the time of reporting, Bitcoin has witnessed a modest recovery, climbing 3.14% within 24 hours to reach $62,907.50. Given Metaplanet’s emulation of MicroStrategy’s playbook, similar bullish returns are anticipated over the long term.
