Metaplanet, Japan’s leading Bitcoin (BTC) treasury firm, has made another big move in the cryptocurrency market. The company shared on September 1 that it had bought 1,009 BTC for 16.48 billion yen, worth about $112 million. Metaplanet Climbs to Sixth-Largest Bitcoin Holder with 20,000 BTC Bitcointreasuries.net data revealed that this latest buy has pushed Metaplanet to rank the sixth-largest public company holding the flagship crypto, overtaking Riot Platforms. The Tokyo-based firm now holds 20,000BTC in its reserve. According to the disclosure, the coins were acquired at an average price of around $111,068 each. The achievement also highlights how quickly Metaplanet is growing its reserves. Less than three months ago, it held 10,000 Bitcoin. Earlier this year, the company raised its year-end target to 30,000 Bitcoin, tripling its original goal of 10,000. This move underlines Metaplanet’s commitment to building one of the largest corporate Bitcoin treasuries in the world. Metaplanet Unveils $880M Bitcoin Push, Eyes Broader Growth Strategy Metaplanet is not slowing down. Just last week, the company revealed plans to raise 130 billion yen, equivalent to about $880 million, through an international share offering. Most of the funds will be used to buy more Bitcoin over the next two months. CEO Simon Gerovich has also shared longer-term plans. He said the firm may borrow against its crypto reserves in the future to acquire cash-generating businesses. This bold plan shows that Metaplanet views Bitcoin as a store of value and also as a foundation for wider business growth. Metaplanet’s aggressive Bitcoin strategy mirrors the approach pioneered by Michael Saylor, the Chairman and co-founder of Strategy. In 2020, Saylor began shifting his company’s balance sheet into Bitcoin, setting a trend that reshaped how corporations view the asset. Today, the U.S.-based firm holds close to 700,000 BTC, making it the largest corporate Bitcoin treasury holder in the world. By following a similar path, Metaplanet is positioning itself as Asia’s leading player in corporate Bitcoin adoption. Market Reactions and Stock Performance Despite the bold move, Metaplanet’s Tokyo-listed shares dropped sharply. According to Yahoo Finance data, the share price dipped by 2.62% on Monday morning while markets were still open. However, the company’s U.S.-listed stock MTPLF closed last Friday up 0.83% at $6.11. Meanwhile, the top coin asset itself is facing pressure in the crypto market, as it has dropped significantly from its July all-time high. At the time of writing, Bitcoin’s price is trading at $108,776, up 0.35 % in the past 24 hours, according to CoinMarketCap data. This bearish trajectory comes as many naysayers are scrutinizing Bitcoin, writing it off as dead. However, many market experts see the top coin’s recent pullback not as a market bottom but rather as more potential downside . The post Metaplanet Expands Bitcoin Treasury After Latest $112M Buy appeared first on TheCoinrise.com .
