Metaplanet Becomes Asia's Largest Bitcoin Holder with 1,018 BTC After ¥1.6 Billion Purchase

Oct 28, 2024, 08:51 AM

Japanese company Metaplanet has acquired an additional 156.78 Bitcoin for ¥1.6 billion (approximately $10.5 million), bringing its total holdings to 1,018.17 BTC valued at around $69 million. This purchase makes Metaplanet Asia's largest corporate Bitcoin holder and the 19th-largest globally. Following the acquisition, the company's stock price surged by 8%. Metaplanet, often referred to as 'Asia's MicroStrategy,' began investing in Bitcoin in May and has steadily increased its holdings since then. The recent purchases follow a ¥1 billion (approximately $6.7 million) funding round aimed at long-term Bitcoin acquisition. CEO Simon Gerovich stated, "Metaplanet now owns more than 1,000 BTC, making it one of the largest corporate holders of Bitcoin in Asia."