Japanese Investment Company Metaplanet Announces Bitcoin Acquisition
On Monday, the Japanese investment company Metaplanet announced that it has spent approximately 15.195 billion yen (about 104.3 million USD) to acquire 1,004 bitcoins as part of its “Bitcoin Financial Operations” strategy, with an average purchase price of 15,134,304 yen (approximately 103,873 USD).
As of May 19, Metaplanet holds a total of 7,800 bitcoins (valued at approximately 810 million USD based on the current bitcoin price of around 104,000 USD). According to Metaplanet CEO Simon Gerovich, the acquisition cost of these bitcoins is about 712.5 million USD, with an average purchase price of approximately 91,343 USD.
Initially, Metaplanet was a company focused on developing Web3 and metaverse technologies while operating in the hospitality sector. However, it 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 of the yen. In January of this year, Gerovich stated that the company aims to expand its bitcoin holdings to 10,000 BTC by 2025.
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