Metaplanet, a Tokyo-based company listed on the stock exchange, has made another big move in the crypto space. On July 28, the company announced that it had purchased 780 more Bitcoin (BTC) worth a whopping $92.5 million. This purchase shows the company’s strong confidence in the future of Bitcoin. Metaplanet Ranks Among Top Bitcoin Holders with $2B Crypto Reserve According to the announcement, the latest purchase was made at an average price of $118,622 per Bitcoin. This brings Metaplanet’s total crypto holdings to 17,132 BTC. At current market prices, those holdings are worth around $2 billion. In a recent X post , Simon Gerovich, Metaplanet’s CEO, shared that the company’s average purchase price for all its Bitcoins is $101,030. This means the company has managed to accumulate a large number of the top coins at a relatively favorable price. According to data from BitcoinTreasuries.net, Metaplanet now ranks as the seventh-largest public corporate holder of Bitcoin globally. This places it among major players, such as Michael Saylor’s company, which also holds large amounts of Bitcoin on its balance sheet. Tokyo Tech Firm Aims for 210K Bitcoin by 2027 Metaplanet, listed on CoinShares Block Index , is not slowing down. Since it began buying the flagship cryptocurrency in April 2024, the company has made it clear that it views Bitcoin as a key part of its financial future. Last month, the Japanese company announced a new goal to hold over 210,000 Bitcoins by the end of 2027. This would give the company control of 1% of the total Bitcoin supply. Furthermore, Metaplanet’s crypto strategy is already having a positive effect on its business. In the second quarter of this year, the company reported revenue of nearly 1.1 billion yen, equivalent to approximately $7.6 million. That is a 42.4% increase compared to the same period last year. These results were shared in the company’s latest quarterly report, released earlier this month. Metaplanet Stock Climbs as Bitcoin Strategy Draws Investor Attention Investors have taken notice of Metaplanet’s Bitcoin strategy . On the same day of its latest purchase, Metaplanet’s stock rose 5.6% to 1,247 yen, equivalent to $8.40 by midday trading in Japan. The stock has fallen by 16.3% in the last month, but according to Yahoo Finance data, it is still up 258.3% since the start of the year. This indicates that it is performing very well overall, despite the recent drop. Likewise, Bitcoin’s price is also seeing upward momentum in the crypto market, despite recent volatility. As of the time of writing, the top coin is trading at $118,643, up 0.32% in the last 24 hours, according to CoinMarketCap data. The post Metaplanet Deepens Bitcoin Strategy with Fresh $92.5M Bet appeared first on TheCoinrise.com .
