Japanese investment firm Metaplanet has purchased an additional 780 Bitcoins for around $ 92 million. This new purchase has increased Metaplanet's total holdings to 17,132 BTC. The last purchase was done at an average price of roughly $118,145 per coin.
With a total investment of $1.7B at an average cost of $99,640 per Bitcoin, Metaplanet is the only non-US firm among the top ten largest corporate Bitcoin holders. It is ranked seventh globally. It trails Trump Media & Technology Group with 18,430 BTC and is ahead of Galaxy Digital with 12,830 BTC. However, it is still far behind Strategy's gigantic 607,770 BTC treasury.
Simon Gerovich, CEO of Metaplanet, recently stated that the company is developing a different Bitcoin model for Japan that is customized to local legislation, taxation, and capital markets. The company's stock has increased by 517% in the past year, reaching a market capitalization of 1 trillion Yen and becoming Japan's top-performing stock.
Looking ahead, Metaplanet plans to use its Bitcoin reserves to buy cash-generating enterprises, maybe including a digital bank in Japan.
