Originally published on: October 28, 2024
Metaplanet, a renowned Japanese investment firm, has made headlines in the crypto world by becoming Asia’s second-largest corporate Bitcoin holder. The company recently celebrated a significant milestone as its Bitcoin holdings crossed the 1,000 BTC mark, valued at approximately $68 million.
In a recent announcement on Oct. 28, Metaplanet revealed that it had acquired an additional 156.78 Bitcoin, bringing its total holdings to 1,018.17 BTC. With an average purchase price of around $61,629 per Bitcoin, the company’s latest investment reflects a strong commitment to digital assets.
Simon Gerovich, the CEO of Metaplanet, expressed his excitement about the company’s achievement, stating, “We are thrilled to reach this milestone in Bitcoin holdings.” When questioned about future investments in BTC, Gerovich confidently replied, “Always and forever,” signaling a continued bullish stance on Bitcoin.
According to data from BitcoinTreasuries, Metaplanet now ranks as the 19th-largest corporate Bitcoin holder globally and the second-largest in Asia. Contrary to earlier reports suggesting Metaplanet had secured the top spot in Asia, the data shows that a Chinese firm named Boyaa Interactive International holds 1,100 BTC, maintaining the lead position.
Following Metaplanet in the ranking is a Hong Kong-based company called Meitu, holding 940.9 BTC valued at $64 million. Despite stiff competition, Metaplanet’s strategic shift to adopt Bitcoin as its primary treasury reserve asset has proven to be a prudent decision amidst economic uncertainties in Japan.
Since embracing Bitcoin in its treasury management strategy in May, Metaplanet’s shares have experienced positive growth, especially after announcing additional Bitcoin investments. On Oct. 15, the company’s shares surged by 16% following a significant BTC purchase, demonstrating investor confidence in its Bitcoin-first approach.
Currently trading at 1,150 JPY ($7.5), Metaplanet’s stock has shown remarkable growth of 505.26% in 2024, as per Google Finance data. With a clear commitment to Bitcoin and a solid performance in the market, Metaplanet continues to be a key player in the evolving cryptocurrency landscape.
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