Metaplanet adds 780 Bitcoin, now holds 17,132 BTC worth over $2B

Japanese investment company Metaplanet bought an additional 780 Bitcoin, reinforcing its position as the only non-US company among the top 10 corporate Bitcoin holders.

The company disclosed the acquisition in a Monday . Following its latest Bitcoin () purchase, Metaplanet’s holdings reached a total of 17,132 BTC, with an average purchase price on the newly added Bitcoin of 17,520,454 Japanese yen per coin (around $118,145) for a total cost of about $92 million.

Metaplanet has spent a total of $1.7 billion on Bitcoin at an average cost of $99,640 per coin.

As of the time of writing, Nansen data that Bitcoin traded at $118,171, just above Metaplanet’s latest purchase price. Over the past 24 hours, the cost of Bitcoin has increased by 0.75%.

The news follows recent reports that Metaplanet plans to eventually use its Bitcoin reserves to acquire cash-generating businesses, .

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Metaplanet consolidates as top non-US Bitcoin treasury

With this latest acquisition, Metaplanet solidifies its position as the leading Bitcoin treasury not based in the United States. According to BitcoinTreasuries.NET , the company is the only non-US Bitcoin treasury among the 10 largest.

Being the seventh-largest Bitcoin treasury in the world, Metaplanet stands behind the Trump Media & Technology Group (the company behind Truth Social) with its 18,430 BTC, and above Michael Novogratz’s Galaxy Digital Holdings with its 12,830 BTC. Still, Metaplanet’s current 17,132 BTC is a far cry from the world’s first and top Bitcoin corporate treasury Strategy (formerly MicroStrategy) with 607,770 BTC worth over $72 billion.

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Metaplanet’s success story

Metaplanet’s bold Bitcoin strategy has coincided with significant gains in its stock price. The company’s shares have surged 517% over the past year and 246% year-to-date. As of Monday, the stock was trading at $8.36, up 5% on the day, according to Google Finance.

During a recent with Forbes Japan, Simon Gerovich, president and CEO of Metaplanet, said that he did not expect such rapid growth.

“In just a year, we became the country’s top-performing stock, with record trading volume and a ¥1 trillion market cap,“ he said.

Gerovich also highlighted that the company is not simply imitating Strategy, but instead “building a Japan-native model” that is “tailored to local regulation, taxation, and capital markets.” He added that the firm offers Bitcoin exposure that is compliant with the nation’s tax-free savings accounts.

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