Basri Caneri 
Japanese investment firm Metaplanet increased its investment in Bitcoin, buying 497 BTC worth $43.9 million. This purchase led to a 21% rise in the company’s shares on the Tokyo Stock Exchange.
Metaplanet CEO Simon Gerovich said on March 5 that they made this investment, paying an average of $88,448 per BTC. The company’s total Bitcoin holdings reached 2,888 BTC, with a total value of $251 million. The average cost of Metaplanet’s BTC purchases so far is $84,240.
Rise in Metaplanet Shares
Bitcoin’s 8.5% drop in value over the past two weeks, falling below $79,000 on February 28, presented Metaplanet with a favorable buying opportunity. The company’s strategic move attracted investor interest and sent its share price soaring. Metaplanet shares reached 4000 Japanese yen (approximately $26.76).
The company’s shares, which declined last week due to the decline in Bitcoin, have gained more than 1,700% in the last 12 months. This was Metaplanet’s second major Bitcoin investment this week. The company continued to increase its Bitcoin holdings on March 3, buying 156 BTC.
Metaplanet’s Bitcoin Strategy
Metaplanet aims to accumulate 21,000 BTC by 2026 and continues its purchases in this direction. The company, which has purchased 794.5 BTC so far in 2024, earned approximately $66 million from these investments in the first quarter of the year.
Metaplanet, which rapidly increased its Bitcoin assets, became the 12th company holding the most BTC globally, while becoming the largest institutional BTC investor in Asia.
CEO Simon Gerovich stated that Metaplanet is considering the option of listing outside Japan to attract international investors. Gerovich, who met with New York Stock Exchange and Nasdaq officials at the end of February, stated that they aim to open the company’s shares to global markets.
Metaplanet’s aggressive Bitcoin investments have triggered a rise in the company’s shares, while creating a significant movement in the crypto ecosystem in Japan.
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