MicroStrategy's Asian Heir Bought Bitcoin, Became the 16th Largest! - Coin Bulletin

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Japanese-based Metaplanet (3350) announced that it has completed the additional Bitcoin (BTC) purchase it previously announced

Metaplanet, seen as the crown prince of MicroStrategy, recently increased their assets by making a purchase of 269.43 Bitcoin worth 4 billion yen, 26.4 million dollars, bringing their total holdings to 2,031.41 BTC.

Metaplanet, stating that it continues its Bitcoin investments within the framework of its adopted treasure strategy, has made a total investment of 24.9 billion yen so far according to this strategy that started in April 2024 and paid an average of 12.2 million yen per Bitcoin.

The company announced last week that the 4 billion yen it raised through interest-free and unsecured bond issuance would be used to buy Bitcoin, and fulfilled its promise with this purchase.

(# Became the 16th largest company in Bitcoin

This acquisition follows Metaplanet's financing move last month, raising $745 million by issuing 21 million new shares. The company's Bitcoin strategy follows the path taken by corporate giants like MicroStrategy and is becoming increasingly popular in the Japanese financial world. According to Bitcoin Treasuries data, Metaplanet has climbed to the position of the 16th company with the most Bitcoin holdings among public companies.

Following these developments, Metaplanet shares rose 2.2% on Monday to 6,040 yen.

BTC2.26%
ALD6.12%
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