Japan’s Metaplanet has increased its Bitcoin holdings by acquiring 696 BTC for 10.152 billion yen (approximately $67 million), as shared in an announcement on April 1 via social media.
This latest investment brings Metaplanet’s total Bitcoin reserves to 4,046 BTC, which is valued at over $341 million based on current market conditions.
The acquisition follows Metaplanet’s issuance of 2 billion Japanese yen ($13.3 million) in bonds to fund further Bitcoin purchases, as reported on March 31.
Additionally, this move comes on the heels of Metaplanet’s 10-to-1 reverse stock split. The company had previously indicated a concern on February 18 that a significant rise in its share price was creating barriers for retail investors.
The firm stated, “We executed a reverse stock split that consolidates 10 shares into 1. As a result, our stock price surged, and the minimum investment needed to buy shares on the market has now surpassed 500,000 yen, imposing a heavy financial burden for potential investors.”
The purpose of the stock split is to decrease the trading unit price, thereby improving liquidity and broadening the company’s investor base.
Completed on March 28, the 10-to-1 stock split aims to make investments more accessible.
Metaplanet, often likened to “Asia’s MicroStrategy,” has set a goal to accumulate 21,000 BTC by 2026 as a part of its strategy to promote Bitcoin adoption in Japan. With its current inventory of 4,046 BTC, the company ranks as the ninth-largest corporate Bitcoin holder worldwide.
In a broader context, Metaplanet’s acquisition aligns with trends of institutional dip buying, evident from the recent activity of other companies in the space. For instance, another prominent entity announced on March 31 that it purchased 22,048 BTC for $1.92 billion at an average price of $86,969 per Bitcoin. This organization now owns over 528,000 BTC, amassed for $35.63 billion at an average cost of $67,458 each.
Despite ongoing global market uncertainties, including anticipated tariff announcements from the U.S. government that could introduce volatility into both the cryptocurrency and traditional markets, institutions express growing confidence in Bitcoin.
Market analysts have noted a muted risk appetite due to these tariff threats and prevailing macroeconomic uncertainties, with expectations that the upcoming announcement may address reciprocal trade tariffs that could elevate inflation concerns and dampen demand for riskier assets like Bitcoin.