Metaplanet Goes Bitcoin Shopping, Stacks 696 BTC

Publicly traded Japanese investment firm Metaplanet bought 696 BTC (worth approximately $68 million) in its latest purchase, increasing its Bitcoin holdings to 4,046 BTC. The latest big buy comes only a week after the firm spent $13 million on the leading cryptocurrency.

*Metaplanet Purchases Additional 696 $BTC* pic.twitter.com/ppnm8ZNH5X

— Metaplanet Inc. (@Metaplanet_JP) April 1, 2025

Rising Interest in Bitcoin

Metaplanet explained in its announcement that it purchased the Bitcoin stash at an average trading price of $97,789 for each unit and $68 million for the entire stash. The firm also disclosed that it spent over $351 million to accumulate its entire 4,046 BTC stash.

Notably, Metaplanet’s latest BTC acquisition came only a day after the firm disclosed that it issued around $13.33 million in zero-interest bonds to raise capital. This financial instrument allows companies to raise money by borrowing from investors and agreeing to pay them back with interest later. Instead of using its cash, Metaplanet raised new funds to buy bitcoins.

Other companies employ fundraising mechanisms like convertible note offerings to raise capital to boost their BTC holdings. A prime example is Strategy (formerly MicroStrategy), a business intelligence firm led by its executive chairman, Michael Saylor. Today, Strategy holds over 528,185 BTC, making it the largest corporate Bitcoin holder.

By taking this approach, Metaplanet, like Strategy, uses funds from external sources to finance its Bitcoin purchases, rather than relying on its profits. This approach allows the company to grow its Bitcoin holdings quickly while keeping cash available for other business needs.

If Bitcoin’s price appreciates, Metaplanet’s investments could lead to significant financial returns as the company seems committed to holding Bitcoin long-term rather than making quick trades.

According to BitcoinTreasuries.com, Metaplanet’s latest purchase has made it the 10th largest Bitcoin holder among public companies. It is also the biggest in Japan.

Aside from public companies, other firms are heavily investing in BTC. For instance, Tether, the largest stablecoin issuer, recently disclosed that it bought 8,888 BTC in the first quarter of this year. This brings its total BTC stash to 100,521 BTC valued at around $8.46 billion.

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