Japan-based Metaplanet has announced a significant expansion of its Bitcoin holdings, acquiring 696 BTC valued at approximately 10.152 billion yen, or $67 million. This acquisition was disclosed in a post on X on April 1, marking a substantial step for the firm’s investment strategy. Following this purchase, Metaplanet’s total Bitcoin reserves now number 4,046 BTC, currently valued at over $341 million.
Stock Split Targets Investor Accessibility
This recent acquisition comes on the heels of Metaplanet issuing 2 billion Japanese yen (around $13.3 million) in bonds specifically designated for purchasing Bitcoin, a move reported by Cointelegraph on March 31. Additionally, the company recently undertook a 10-to-1 reverse stock split to enhance investor accessibility to its shares.
In a notice dated February 18, Metaplanet noted that their share price had surged significantly, forming a barrier to retail investors wanting to buy their stock. Consequently, the reverse stock split was implemented to align the price more favorably for potential investors. The stock now trades at a level accessible to a broader investor base.
The split was completed on March 28, a development intended to improve liquidity and broaden the firm’s investor base.
Metaplanet, which is sometimes referred to as ‘Asia’s MicroStrategy’, aims to accumulate a total of 21,000 BTC by 2026 as part of its mission to drive Bitcoin adoption in Japan. Presently, they stand as the ninth-largest corporate Bitcoin holder globally, according to data from Bitbo.
Strategy Also Buying the Bitcoin Dip
Interestingly, Metaplanet’s investment aligns with a broader trend of institutions buying Bitcoin during market dips. Notably, Michael Saylor’s strategy, announced on March 31, involved purchasing 22,048 BTC for $1.92 billion, indicating strong institutional confidence in the cryptocurrency despite prevailing market fluctuations.
Saylor revealed in a subsequent post that his firm now holds over 528,000 BTC acquired at an average price of $67,458 per Bitcoin. Such movements suggest that, despite external uncertainties like President Trump’s impending tariff announcements, institutional investors remain optimistic about Bitcoin’s future.
The ongoing macroeconomic landscape, including potential inflation impacts from tariff threats, creates a unique juxtaposition for investors considering risk assets like Bitcoin. Analysts have noted that risk appetite may be constrained amid such uncertainties, influencing the crypto market’s trajectory moving forward.
This recent activity by Metaplanet illustrates a compelling narrative within the cryptocurrency space, showcasing both strategic acquisitions and the delicate balance of market dynamics.
