Étienne Girard
Japanese bitcoin treasury firm Metaplanet has made another massive move into digital assets, acquiring 5,268 BTC worth ¥91.6 billion ($623 million). This brings its total bitcoin reserves to 30,823 BTC, solidifying its position among the top global corporate holders of the cryptocurrency.
The company revealed that the purchase price averaged ¥17.4 million ($118,328) per bitcoin, marking one of its most significant entries into the market. With this latest buy, Metaplanet now ranks as the fourth-largest publicly traded bitcoin treasury company, trailing only Strategy, MARA Holdings, and XXI, according to CEO Simon Gerovich.
This purchase follows Metaplanet’s record-breaking $632 million bitcoin acquisition on Sept. 21, which remains its largest single investment to date.
Strong Financial Growth Amid Bitcoin Expansion
Alongside its bitcoin strategy, Metaplanet also reported strong financial performance. The firm posted Q3 revenue of ¥2.438 billion ($16.5 million), reflecting a 115.7% increase compared to Q2, Gerovich stated.
“Our Q3 results showcase operational scalability and lay a strong foundation for the upcoming preferred share issuance, which is key to advancing our Bitcoin Treasury strategy,” the CEO noted.
New Capital Raising and U.S. Expansion
Last month, Metaplanet announced plans to raise $1.4 billion through the issuance of 385 million new shares, with proceeds earmarked for further bitcoin acquisitions. The board also approved the creation of Metaplanet Income Corp., a new U.S.-based subsidiary, aimed at scaling its “Bitcoin income generation” business, which will focus on derivatives and related financial products.
Market Reaction and Bitcoin Price
Despite the aggressive bitcoin strategy, Metaplanet’s Tokyo-listed stock fell 10.26% on Monday, according to Yahoo Finance. The stock is down 38% over the past month but still maintains a 48.3% year-to-date gain.
Meanwhile, its U.S.-traded shares (MTPLF) ended Tuesday up 8.86% at $3.96, PRIME’s data shows.
At the same time, Bitcoin itself has climbed 0.44% in the past 24 hours, currently trading around $114,488.
