Japanese investment firm Metaplanet has purchased nearly $94 million worth of new BTC as Bitcoin once again tests all-time highs. The company announced the purchase of 797 Bitcoin at an average price of $117,451. Metaplanet Purchases 797 More BTC Following Bitcoin Bull “Another week, another purchase,” CEO Simon Gerovich said in a statement on the X platform on Monday. With this latest transaction, Metaplanet's total Bitcoin holdings reached 16,352 BTC, and its total investment value reached $1.64 billion. According to data platform bitcointreasuries.net, Metaplanet is the world's fifth-largest Bitcoin holder among publicly traded companies. Michael Saylor's Strategy topped the list with 597,325 BTC. Other top-ranked institutions include MARA, Twenty One, and Riot Platforms. Metaplanet attracted attention by exiting the hotel management business in 2023 and shifting to a fully Bitcoin-focused treasury strategy. Last month, the company announced its goal of holding 210,000 BTC by the end of 2027. In an interview with the Financial Times, CEO Gerovich stated that the company plans to acquire businesses that leverage BTC collateral to generate cash, but that these initiatives are still in the early stages. He emphasized that there's currently a “Bitcoin gold rush,” presenting an opportunity for the company to expand into areas like financial services. Metaplanet's revenue rose to 1.1 billion yen ($7.6 million) in the second quarter of the year, a 42.4% increase compared to the same period last year. Shares of the company rose 1% to 1,580 yen ($10.7) in Tokyo on Monday, suggesting investors are continuing to price in institutional interest in Bitcoin. Metaplanet's aggressive purchases demonstrate that institutional investors' interest in BTC continues to strengthen, and companies are positioning Bitcoin as a strategic asset on their balance sheets. *This is not investment advice. Continue Reading: As Bitcoin Rises to New ATH, Japanese Investment Firm Continues to Buy BTC! Here's Its Latest Purchase Amount
