Metaplanet, a publicly traded Japanese firm, revealed it had acquired 38.6 Bitcoin for 300 million yen (about $2.2 million), increasing its total Bitcoin reserves to 398.8 BTC.
This recent Bitcoin purchase follows Metaplanet’s announcement in August about raising 10.08 billion yen to secure additional Bitcoin, reflecting its wider corporate strategy to invest in Bitcoin.
Metaplanet initially implemented a pro-bitcoin investment approach earlier this year and has consistently built its Bitcoin holdings. The firm now owns a total of 398.8 bitcoins acquired for roughly 3.75 billion yen (approximately $27.6 million).
Metaplanet’s continuous Bitcoin treasury expansion resembles MicroStrategy’s strategy, which has involved leveraging debt to acquire Bitcoin. It seems that publicly traded companies have identified an effective model for Bitcoin acquisition.
Other companies adopting this approach include Marathon Digital Holdings, which recently secured $250 million through a convertible note offering to buy additional Bitcoin, and Semler Scientific, which also announced plans to raise funds to increase its Bitcoin holdings.
By borrowing fiat at low interest rates to purchase Bitcoin, firms can take advantage of Bitcoin’s potential growth while maintaining their existing asset base.
Disclaimer: Bitcoin Magazine is entirely owned by BTC Inc., which also manages UTXO Management, a regulated capital allocator focused on the digital assets sector and has investments in Metaplanet. UTXO invests across a range of Bitcoin enterprises and holds substantial digital asset investments.
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