Metaplanet Expands Bitcoin Holdings to Over 630 BTC with New $6.7 Million Purchase
Japanese investment firm Metaplanet has expanded its Bitcoin holdings to 639.5 BTC with a recent $6.7 million purchase. The firm, known for its aggressive Bitcoin strategy similar to MicroStrategy’s, aims to counter economic challenges in Japan. Its stock has risen as a result, and the company recently earned $1.4 million by selling Bitcoin put options. Metaplanet has also partnered with SBI VC Trade for corporate digital asset management and is raising capital for further investments.
Metaplanet Expands Bitcoin Holdings to Over 630 BTC with New $6.7 Million Purchase
Japanese investment firm Metaplanet announced the addition of 108.78 Bitcoin to its portfolio, valued at 1 billion yen ($6.7 million). This acquisition brings the company's total Bitcoin holdings to 639.5 BTC, worth approximately 5.96 billion yen ($40 million). Metaplanet's aggressive Bitcoin-focused treasury strategy aligns with the approach taken by MicroStrategy, aiming to counter Japan’s economic challenges, such as negative interest rates and quantitative easing.
Metaplanet’s latest move marks continued efforts to build a substantial Bitcoin reserve. The firm’s stock has seen a significant boost, reflecting investor confidence in its Bitcoin strategy. Recently, Metaplanet earned $1.4 million by selling 223 Bitcoin put options to Singapore’s QCP Capital, capitalizing on the cryptocurrency’s volatility. The firm also partnered with SBI VC Trade, a subsidiary of SBI Group, to enhance corporate custody services for digital assets, ensuring compliance and tax efficiency.
Additionally, Metaplanet has raised funds through stock acquisition rights, planning to use the capital for further Bitcoin investments and digital asset opportunities.
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