Japan’s Metaplanet Buys $12.5M in Bitcoin, Adding Another 150 BTC to Holdings

Japanese investment firm Metaplanet has expanded its Bitcoin holdings once again, purchasing an additional 150 BTC for approximately $12.5 million.

The Tokyo-listed company disclosed on Tuesday that it acquired the Bitcoin at an average price of $83,508 per BTC as part of its ongoing accumulation strategy.

With this latest acquisition, Metaplanet now holds a total of 3,200 BTC, valued at approximately $265.9 million based on current market prices.

The firm’s aggressive Bitcoin strategy was initiated in April 2024, with a goal to hold 10,000 BTC by the end of 2025 and 21,000 BTC by 2026.

To fund its continued Bitcoin purchases, Metaplanet raised 2 billion yen ($13.3 million) through a bond issuance on Tuesday.

The company previously issued ordinary bonds of the same amount to EVO FUND on February 27, with proceeds earmarked for further Bitcoin accumulation.

The latest bond issuance is also fully allocated to EVO FUND, with no guarantee or collateral attached.

JUST IN: Japanese public company Metaplanet buys 150 #Bitcoin for $12.5 million. pic.twitter.com/B8h6NoYIIx

Despite its aggressive Bitcoin buying spree, Metaplanet’s stock price dipped 0.49% on Tuesday, closing at ¥4,030.

However, year-to-date, the stock has gained 15.8%, and over the past year, it has surged 1,819%, according to Yahoo Finance. Meanwhile, Japan’s Nikkei 225 index rose 1.2% on the same day.

Metaplanet has been consistently expanding its Bitcoin Treasury Operations, with its most recent major purchase occurring on March 12, when it acquired 162 BTC, bringing its total holdings to 3,050 BTC at the time.

Bitcoin remains under pressure, failing to sustain levels above $85,000 on March 14, despite a 1.9% gain in the S&P 500 index.

The leading cryptocurrency has not traded above $90,000 for over a week, raising concerns among traders about whether the bull market has lost momentum and how long selling pressure will persist.

Despite a 30% drop from its all-time high of $109,354 on January 20, Bitcoin’s derivatives market suggests resilience.

The Bitcoin basis rate, which measures the premium of monthly contracts over spot markets, has rebounded after briefly signaling bearish sentiment on March 13.

Traders typically demand a 5% to 10% annualized premium to compensate for longer settlement periods, and while Bitcoin’s current 5% basis rate is below the 8% recorded two weeks ago, it remains within neutral territory.

This suggests that leveraged buyers are still engaged in the market, though with reduced confidence.

In another positive development, Bitcoin spot exchange‐traded funds (ETFs) posted a robust single‐day inflow of $274.59 million on March 17, showing renewed investor confidence in the world’s largest cryptocurrency.

BlackRock’s iShares Bitcoin Trust (IBIT) led the charge among Bitcoin products with an inflow of $42.26 million.

However, as reported, digital asset investment products have now experienced outflows for the fifth consecutive week, with a total of $1.7 billion withdrawn over the past seven days.

The post Japan’s Metaplanet Buys $12.5M in Bitcoin, Adding Another 150 BTC to Holdings appeared first on Cryptonews.