Metaplanet Makes Largest Bitcoin Buy Yet With $60 Million Purchase

Japanese investment firm Metaplanet has made its largest ever Bitcoin purchase, acquiring $60 million worth of the king of cryptos.

This marks the company’s largest acquisition since it began investing in cryptocurrency in May 2024.

Metaplanet’s Largest-ever 620 Bitcoin Purchase

Japanese investment company Metaplanet acquired almost 620 Bitcoins, which is its largest Bitcoin purchase ever, as the cryptocurrency continues to trade below $100,000.

On December 23, Metaplanet announced the purchase of 619.7 Bitcoin, valued at just under $60 million. At that time, Bitcoin was trading at around $96,000.

This was the company’s largest-ever Bitcoin purchase since it began buying Bitcoin in May. Compared to Metaplanet’s previous record buy of 159.7 BTC on October 28, the latest purchase nearly quadrupled the value of the last record, Bitbo data shows.

The Tokyo-based company has been described as “Asia’s MicroStrategy,” after an American development company holding significant Bitcoin assets. After the December purchase, Metaplanet holds 1,762 BTC, valued at approximately $168 million, making it the 12th-largest Bitcoin stack among public firms.

Metaplanets’ BTC Yield Shows Strong Growth

Metaplanet announced that its Bitcoin yield reached 310% from October 1 to December 23, which makes it significantly higher than the 41.7% yield from July to September.

BTC yield performance is a key metric used to evaluate Metaplanet’s acquisition strategy and its effectiveness in attracting shareholders.

On December 18, Metaplanet forecasted that they would achieve the first profit since 2017, emphasizing their intention to purchase other cryptocurrencies as a part of their portfolio strategy.

The Tokyo-based company announced it will establish “Bitcoin Accumulation and Management ” as its formal business line. This would include different financial instruments, including stocks, loans, and bonds.

Metaplanet also confirmed its intention to raise over $62 million (9.5 billion Japanese yen) through a stock acquisition program to acquire additional Bitcoin for its treasury.

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