Metaplanet Boosts Bitcoin Stash Above $1.3 Billion With 1,234 BTC Buy

Bitcoin treasury firm Metaplanet has amassed an additional 1,234 Bitcoin worth nearly $132 million, based on the current price, marking its third-largest BTC buy to date, according to a disclosure released by the firm on Thursday.

The Japan-based firm purchased the Bitcoins for 15,617,281 yen per token, or around $108,129 at the current conversation rate, the filing shows. The purchase date remains unclear.

This latest acquisition brings Metaplanet’s Bitcoin holdings to 12,345 BTC, worth more than $1.32 billion at the current price. The company recently announced that it is looking to accumulate 100,000 Bitcoin by 2026.

Bitcoin was recently trading at $106,974, down 0.3% over the past 24 hours, according to data provider CoinGecko. Metaplanet’s stock fell about 5% on the day to 1,509 yen, or about $10.45.

Metaplanet’s latest buy comes amid a boom in cryptocurrency treasuries among publicly traded companies. 

More than 140 publicly traded firms hold Bitcoin on their balance sheets as of publication time, according to data from bitcointreasuries.net. They have amassed a combined $90 billion of the asset, with Michael Saylor’s software firm Strategy holdings roughly two-thirds of that amount. 

Strategy currently holds over $63 billion worth of Bitcoin, according to the company’s filings. It began buying the world’s oldest cryptocurrency in 2020, pioneering the model that has recently become widely adopted.

Metaplanet is the seventh-largest holder of Bitcoin among publicly traded firms that stockpile the asset, according to bitcointreasuries.net. It ranks behind digital assets-focused investment firm Galaxy Digital Holdings and crypto miner CleanSpark, which hold 12,830 BTC and 12,502 BTC, respectively. 

Metaplanet is the largest non-American firm that holds Bitcoin on its balance sheet, according to the same data. The next-largest firm on the list is Canadian mining firm Hut 8 Mining, which holds 10,273 BTC.

Edited by James Rubin