Japanese Investment Company Metaplanet Announces Bitcoin Purchase
On Monday, Japanese investment company Metaplanet announced that it has spent 3.779 billion yen (approximately 26.42 million USD) to acquire 319 bitcoins as part of its “Bitcoin Financial Operations” strategy, with an average purchase price of 11,845,786 yen (approximately 82,818 USD).
As of April 14, Metaplanet holds a total of 4,525 bitcoins (valued at approximately 384 million USD), with an average purchase price of 12,849,780 yen, currently facing an unrealized loss of about 5.2%.
Originally, Metaplanet was a company focused on developing Web3 and metaverse technologies while operating in the hotel business. It later transformed into a Bitcoin financial enterprise in April 2024, adopting Bitcoin as its core financial reserve asset to hedge against Japan’s debt burden and the resulting fluctuations in the yen. In January of this year, Metaplanet’s CEO Simon Gerovich stated that the company aims to expand its Bitcoin holdings to 10,000 BTC by 2025.
