Metaplanet buys additional 330 BTC against crypto market uncertainty
Quick Take Japan’s Metaplanet bought another 330 BTC, bringing its total holdings to 4,855 BTC. Major bitcoin buyer Strategy also added 4,855 BTC to its reserve earlier this month despite ongoing market uncertainty.
Japanese investment firm Metaplanet announced today that it has purchased an additional 330 BTC, worth $28.2 million. This is the company's third bitcoin purchase this month, despite market uncertainties driven by U.S. tariff measures .
The company said it made the purchase at an average price of 12.18 million Japanese yen, or $85,605 per bitcoin.
The latest purchase coincides with bitcoin's first rally above $87,000 since April 2. The world's largest cryptocurrency is up 2.5% in the past 24 hours, trading at $87,279 as of publication time.
Metaplanet took on its bitcoin accumulation strategy in April 2024, and continued to make purchases, even during the recent market downturn triggered by U.S. tariff announcements. In April, the company acquired 809 BTC, keeping it on track to reach its year-end target of 10,000 BTC.
Metaplanet now holds a total of 4,855 BTC with an overall average purchase price of $89,928, which makes it the largest corporate bitcoin holder in Asia and tenth globally.
Meanwhile, Michael Saylor's Strategy, a guiding force in bitcoin accumulation for companies like Metaplanet, announced its purchase of 3,459 BTC last week, increasing its total holdings to 531,644 BTC.
Saylor expressed confidence in his posts on social media platform X, suggesting that tariffs will not have an impact on the company's bitcoin purchase. Strategy posted unrealized losses on its bitcoin holdings worth $5.91 billion in the first quarter of this year.
Metaplanet's stock on the Tokyo Stock Exchange was up 0.85% as of 1:13 p.m. local time, according to Yahoo Finance data . It is currently trading in the afternoon session. The shares have jumped 1,086% in price in the past year since the company adopted the bitcoin strategy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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