Japanese investment firm Metaplanet has strengthened its position in Bitcoin with another major purchase, acquiring 775 BTC worth approximately $93 million. The company confirmed the acquisition through its president, Simon Gerovich, who shared on X (formerly Twitter) that the latest buy was made at an average price of $120,006 per bitcoin.
This new acquisition brings Metaplanet’s total holdings to 18,888 BTC, now valued at close to $1.94 billion, based on current market prices.
Metaplanet Now Among Top 10 Corporate Bitcoin Holders
Since launching its Bitcoin accumulation strategy in April 2024, Metaplanet has quickly climbed the global rankings of corporate Bitcoin treasuries. According to data from Bitcointreasuries, the Tokyo-based firm now ranks seventh worldwide among companies holding BTC.
Despite recent price volatility in the crypto market, Metaplanet has shown strong financial performance. The company reported a 41% quarter-on-quarter revenue increase, reaching 1.2 billion yen ($8.4 million) in Q2. Even more notable, it posted a net income of 11.1 billion yen ($75.1 million), swinging back to profitability.
Share Price Dips, But Outlook Remains Bullish
While Metaplanet’s stock dipped 8.6% on Friday, it saw a slight rebound on Monday. Investors may be cautious in light of market swings, but Gerovich reassured stakeholders by pointing to consistent Bitcoin-related income over the last three quarters.
“This recurring income adds resilience and supports further accumulation,” said Gerovich, reiterating the company’s long-term commitment to Bitcoin.
With strong earnings and a bold Bitcoin strategy, Metaplanet continues to position itself as a major institutional player in the crypto space.
