Japan’s ‘MicroStrategy,’ Metaplanet, is doubling down on its Bitcoin investment with a significant new purchase. On August 12, the Tokyo-based Bitcoin treasury firm announced it had acquired an additional 581 BTC, valued at approximately $61 million. The purchase was made at an average price of $118,519 per BTC, bringing Metaplanet’s total Bitcoin holdings to 18,113 BTC, worth around $1.83 billion at current market prices.
This latest acquisition comes after a series of recent buys, including 463 BTC just last week, as the company aims to reach its goal of holding 30,000 BTC by the end of the year.
Since adopting a Bitcoin-first strategy last year, Metaplanet has transitioned from a hospitality business into a publicly traded BTC treasury company, now standing as the world’s sixth-largest corporate Bitcoin holder.
CEO Simon Gerovich describes the firm’s shift as a hedge against yen depreciation and sovereign debt risks, executing a two-stage strategic plan.
A closer look at Metaplanet’s two-phase Bitcoin strategy
As previously reported by crypto.news, Metaplanet’s Bitcoin strategy is divided into two phases. According to the CEO, the first phase centers on aggressive Bitcoin acquisition funded by equity issuance and debt financing, with the long-term goal of eventually owning 1% of Bitcoin’s total supply.
“We need to accumulate as much bitcoin as we can to get to a point where we’ve reached escape velocity and it just makes it very difficult for others to catch up,”
In phase two, the company plans to use its BTC holdings as collateral to obtain financing, which will be invested in acquiring profitable, cash-generating businesses aligned with its strategy—potentially in digital banking and financial services.
Metaplanet’s Strategy-inspired Bitcoin push has paid off so far, raising the company’s global profile and pushing its stock to record levels. However, recent market challenges have created a more bearish short-term outlook.
Metaplanet’s shares dip
Metaplanet’s shares have fallen approximately 37% over the past month and are now trading 55% below this year’s peak. This decline has reduced its market capitalization by 44%, from ¥1.14 trillion to around ¥638 billion.
The selloff is likely driven by investor profit-taking following the company’s meteoric rise earlier this year. At its June peak, Metaplanet’s stock had surged over 15,000% from its 2024 lows, ranking it among the best-performing stocks worldwide.
A broader pullback in Bitcoin treasury stocks is also contributing to the decline. MicroStrategy, the original Bitcoin corporate treasury, is down 30% from its highs, while MARA Holdings and Trump Media have also experienced double-digit losses.
Despite the setback, Metaplanet remains up 175% year-to-date. The recent drop in valuation doesn’t seem to have shaken the company’s long-term commitment, as it recently announced plans to raise an additional $3.7 billion to purchase more Bitcoin.
Meanwhile, Bitcoin itself has gained about 3.8% over the past week, briefly climbing above $122,000 before settling around $118,706 at the time of writing.
