Metaplanet Inc. Expands Bitcoin Holdings

Japanese investment firm Metaplanet Inc. announced today that it purchased an additional 57.1 bitcoin, valued at approximately $3.3 million. The company remains bullish on the world’s largest cryptocurrency.

The Tokyo-listed firm stated that it acquired 500 million yen worth of bitcoin after securing a $6.8 million loan last week to increase its crypto assets.

This transaction raises Metaplanet’s total bitcoin holdings to 303.095 bitcoin.

Despite this investment, Metaplanet’s stock closed down 5.8% at 1,121 yen on Tuesday. However, its stock price has surged 600% this year, peaking at 3,000 yen on July 24. The Nikkei 225 index gained 3.45% at closing today.

Last week, Metaplanet announced a 1 billion yen ($6.8 million) loan with a 0.1% annual interest rate, predominantly aimed at purchasing bitcoin.

“Always be stacking bitcoin,” stated Simon Gerovich, CEO of Metaplanet, in a post on X today.

In May, the company revealed plans to adopt bitcoin as its strategic treasury reserve asset, citing economic pressures in Japan, including high government debt levels, extended periods of negative real interest rates, and a weak yen as key motivators for this decision.