Metaplanet Soars 10 Following Third Bitcoin Acquisition in TwoMonth Span

Metaplanet Sees 10% Surge Following Latest Bitcoin Acquisition
YEREVAN (CoinChapter.com) — Metaplanet witnessed a significant increase in its shares on Tuesday after revealing its third million-dollar Bitcoin (BTC) purchase within a span of seven weeks.
On June 11, the company announced the acquisition of 23.25 Bitcoin, valued at nearly $1.59 million. This purchase boosted its total Bitcoin holdings to 141.07 BTC, amounting to over $9.6 million. The average buying price stood at $65,365 per Bitcoin or 10,278,391 Japanese yen.


Image showing Metaplanet’s most recent Bitcoin holdings. Source: Metaplanet
Market Response to Metaplanet’s Bitcoin Strategy
The latest Bitcoin purchase had an immediate impact on the stock market. Metaplanet’s stock surged by 10.8%, reaching $0.59 (92 Japanese yen) before stabilizing at $0.57 (89 Japanese yen) by midday on the Tokyo Stock Exchange.


Graph showing the change in Metaplanet’s stock price on June 11. Source: Google Finance
Following the unveiling of its Bitcoin investment strategy on April 9, 2024, Metaplanet’s stock has soared nearly five times. The company’s initial purchase was on April 23, acquiring 97.85 BTC, followed by another purchase of 19.87 BTC on May 10.
Metaplanet Ranks as 30th Largest Corporate Bitcoin Holder
With the recent acquisition, the company now stands as the 30th largest corporate holder of Bitcoin globally. Its strategy mirrors that of MicroStrategy, the largest corporate Bitcoin holder, possessing 214,400 Bitcoin, equivalent to 1.02% of the total Bitcoin supply.
On May 13, Metaplanet reaffirmed its commitment to utilizing a diverse range of capital market instruments to strengthen its Bitcoin reserves. The company views Bitcoin as a safeguard against Japan’s escalating debt crisis and the rapidly depreciating Japanese yen.
Japan’s Debt Crisis Drives Metaplanet Towards Bitcoin
Japan’s debt-to-GDP ratio currently stands at 261%, the highest among developed nations. Since January 2021, the Japanese yen has plummeted by almost 35% against the U.S. dollar. In contrast, Bitcoin has surged by nearly 200% against the yen over the past year.
Despite this, Metaplanet’s Bitcoin holdings pale in comparison to those of Michael Saylor’s company, which owns 214,400 Bitcoin, representing about 1.02% of the total 21 million Bitcoins that will ever exist.
Overall, investors have responded positively to Metaplanet’s Bitcoin acquisitions. The recent purchase has bolstered the company’s Bitcoin reserves and elevated its stock price. While currently only listed on the Tokyo Stock Exchange, there are plans to make its stock accessible to U.S. investors in the future.