Japan’s Metaplanet has boosted its Bitcoin treasury to 20,000 BTC, making it the sixth-largest public company holder of the cryptocurrency.
On Monday, the company announced the purchase of 1,009 BTC for 16.48 billion yen (around $112 million) at an average price of $111,068 per coin. With this latest acquisition, Metaplanet has strengthened its position among major corporate Bitcoin holders.
Just three months ago, Metaplanet surpassed the 10,000 BTC mark. Having revised its year-end target from 10,000 BTC to 30,000 BTC, the company is now accelerating toward that goal. Last week, it also revealed plans to raise 130 billion yen ($880 million) through an international share offering, most of which will be allocated to Bitcoin purchases within the next two months.
CEO Simon Gerovich previously noted that the company may leverage its Bitcoin holdings to acquire cash-generating businesses. This strategy signals Metaplanet’s ambition to evolve beyond a crypto treasury into a Bitcoin-based investment holding firm.
