Can Ahmet 
Japanese investment firm Metaplanet has made its largest cryptocurrency acquisition to date, purchasing Bitcoin worth $60 million. With this purchase, the company’s total Bitcoin holdings have reached 1,762 BTC.
Largest Bitcoin Purchase Yet
On December 23, Metaplanet announced the acquisition of 619.7 Bitcoins. This purchase marks the firm’s largest single transaction since it began buying Bitcoin in May. At the time of the purchase, Bitcoin was trading at around $96,000, bringing the total transaction value to approximately $60 million.
This record-breaking acquisition is nearly four times larger than the firm’s previous record purchase of 159.7 BTC on October 28. According to available data, this recent purchase has increased Metaplanet’s total Bitcoin holdings to 1,762 BTC, with a total valuation of $168 million. The average purchase price for the firm’s Bitcoin portfolio was calculated at approximately $75,600 per BTC.
Dubbed “Asia’s MicroStrategy”
Due to its aggressive Bitcoin investment strategy, Metaplanet has earned the nickname “Asia’s MicroStrategy.” With this latest acquisition, the Tokyo-based firm now holds the 12th-largest Bitcoin reserves among publicly traded companies.
New Bitcoin-Focused Business Models
Metaplanet plans to expand its Bitcoin acquisition beyond a treasury strategy. In a December 18 announcement, the company stated that it aims to report its first operational profit since 2017 and officially establish Bitcoin accumulation and management as a business line. This initiative will involve the use of financial instruments such as loans, equities, and convertible bonds to acquire and manage Bitcoin.
Fluctuations in Stock Price
At the end of November, Metaplanet revealed plans to raise 9.5 billion Japanese yen (approximately $62 million) through a stock acquisition program to support its Bitcoin-focused strategy.
Following this announcement, the company’s stock price on the Tokyo Stock Exchange rose by 5%. However, over the past week, the stock price has declined by approximately 13%. Despite this short-term drop, Metaplanet shares have surged more than 2,100% this year, reaching an all-time high of 4,080 Japanese yen (around $26) on December 17.
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