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‘Asia’s MicroStrategy’ Metaplanet to acquire ¥250 million worth of BTC

‘Asia’s MicroStrategy’ Metaplanet to acquire ¥250 million worth of BTC

The Japanese firm intensifies its BTC portfolio with its latest purchase.

by Vivian Nguyen

1 min read

In Bitcoin

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Market cap
$1.6T
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CoinGecko data as of Oct 27, 6:48 PM EDT.

Metaplanet, a Japanese enterprise often compared to MicroStrategy, is actively increasing its Bitcoin holdings. According to Metaplanet’s recent post on X, the company’s board of directors approved the purchase of an additional ¥250 million (around $1.5 million) worth of Bitcoin. This is their second Bitcoin purchase this month.

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“Metaplanet directors authorize [the] purchase of [an] additional ¥250 million of $BTC,” the company stated.

Metaplanet announced the acquisition of $250 million yen worth of BTC

The latest acquisition follows the company’s previous investment of 19.87 Bitcoin, valued at around 200 million Japanese yen, earlier this month.

On April 8, Metaplanet announced its intention to be the first publicly traded company on the Tokyo Stock Exchange to invest in Bitcoin. The firm allocated ¥1 billion (approximately $6.25 million at the time) for their initial purchase.

Similar to MicroStrategy, Metaplanet aims to accumulate more Bitcoin over time. MicroStrategy is well-known for its aggressive Bitcoin investment strategy, repeatedly buying large amounts of Bitcoin and holding them for the long term.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.