Asian Company Following MicroStrategy Bought Bitcoin: Supply Reaches 1 in 10 Thousand! - Coin Bulletin

Japanese investment firm Metaplanet (3350) has increased their total assets by purchasing an additional 68.59 Bitcoin (BTC), bringing it to 2,100 BTC, and reiterated their goal of reaching 10,000 BTC by the end of the year.

Metaplanet, which continues its investments within the scope of its Bitcoin strategy initiated in April 2024, recently made a purchase of 68.59 BTC worth 6.6 million dollars. According to the announcement, the average purchase price of Bitcoin was 96,335 dollars, and the company's total BTC assets reached 2,100. In this way, Metaplanet managed to own 0.01% of the total Bitcoin supply.

Stock prices and new targets

After this purchase, Metaplanet shares rose by 2.78% to 6,290 yen on the Japan stock market. While the company's shares have gained 80.75% since the beginning of the year, they have experienced a remarkable increase of 427.24% in the last six months. During the same period, the Nikkei 225 index showed a 1.24% decrease.

The company stated that it maintains its target of 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026. It was reported that Metaplanet raised 20 million dollars in equity capital in just the first two trading days as part of this strategy, known as the '21 million plan'. Additionally, it was announced that the company will undergo a 10-1 stock split on April 1st.

The rising graph of Metaplanet

Last month, Metaplanet, which raised 745 million dollars by issuing 21 million new shares, is becoming increasingly popular in the Japanese financial world. The company aims to establish a strong position in the cryptocurrency market by adopting the Bitcoin strategy followed by corporate giants like MicroStrategy.

With recent purchases, Metaplanet stood out as the 16th public company with the most Bitcoin holdings according to Bitcoin Treasuries data.