Japanese investment firm Metaplanet Inc. (TYO:3350) has deepened its Bitcoin strategy, disclosing on Tuesday that it purchased an additional 518 BTC for $61.4 million. The move lifts its total Bitcoin holdings to 118,113 coins—valued at approximately $1.85 billion—making it the world’s sixth-largest corporate Bitcoin holder.
According to the filing, Metaplanet acquired the latest tranche at an average price of $118,519 per coin. Despite a 2.6% dip in Bitcoin’s price to around $118,926 on Tuesday, the company remains committed to its aggressive accumulation strategy.
Metaplanet, originally a hotel and hospitality firm, has reinvented itself over the past year into a Bitcoin-focused treasury and investment vehicle, drawing comparisons to Michael Saylor’s MicroStrategy—now rebranded as Strategy (NASDAQ:MSTR). Like MicroStrategy, Metaplanet has embraced share offerings to fuel its crypto acquisitions.
Earlier this month, the firm announced plans to raise ¥580 billion ($3.7 billion) via a large stock issuance explicitly aimed at purchasing more Bitcoin. The strategy mirrors MicroStrategy’s widely followed playbook, which has seen the American firm amass 628,946 BTC, the largest corporate Bitcoin stash in the world.
While Metaplanet’s share price dropped 2.4% on Tuesday following the announcement, its long-term strategy appears focused on aligning its equity value with Bitcoin’s performance—a tactic that proved successful for Strategy, whose stock has tracked BTC’s meteoric rise over the past year.
Metaplanet now ranks just behind U.S. mining firm Riot Platforms (NASDAQ:RIOT) in corporate Bitcoin holdings and is emerging as Asia’s most aggressive institutional Bitcoin buyer.
As crypto gains broader acceptance in global finance, Metaplanet’s pivot reflects a growing trend of public companies turning to Bitcoin as a strategic treasury asset. With further capital raises on the horizon, the company shows no signs of slowing its BTC accumulation, even as market volatility persists.
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