Basri Caneri 
Japanese investment firm Metaplanet has expanded its Bitcoin reserves by purchasing 68.59 BTC, worth approximately $6.6 million. The company’s total Bitcoin holdings reached 2,100 BTC, equivalent to 0.01% of Bitcoin’s total supply.
Metaplanet’s Bitcoin Strategy is Moving Fast
Metaplanet announced on February 20 that it made its last Bitcoin purchase at an average price of 14.53 million Japanese yen per BTC. The company’s Q3 2024 BTC Yield was 41.7%, rising to 309.8% in Q4 2024.
Metaplanet announced that it launched its Bitcoin strategy on April 8, 2024 and announced that it aims to reach 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026. With the latest purchase, it has made 2.38% progress towards its goal under the “21 Million Plan”.
Metaplanet Shares and Market Reaction
The company’s shares rose 1.79% in the over-the-counter (OTC) market on the news of the Bitcoin purchase.
However, in early February, Metaplanet shares fell by over 8%. This was after the company announced a 10-for-1 stock split to increase shareholder liquidity.
Metaplanet has become Japan’s best-performing stock following its focus on Bitcoin. The company’s shares gained over 3,600% during 2024.
While the company’s long-term Bitcoin investment strategy is closely followed by the market, Metaplanet’s targeted BTC purchases in the coming years could have a significant impact on the crypto market.
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