Japanโs Metplanet has become the largest corporate holder of Bitcoin in Asia after its latest purchase.
According to the companyโs CEO, Simon Gerovich, Metaplanet grabbed another 497 BTC at around $88,448 per coin, investing nearly $44 million in the process on March 5. This latest buy bumps its total stash to 2,888 BTC, worth over $251 million, with Bitcoin hovering around $87,198 at press time.
The Japanese firm bought the dip as Bitcoin dropped over 8% on March 4 as concerns regarding a potential trade war and fresh tariffs from the U.S. continued to rattle markets.
Metaplanet has dethroned Chinese gaming firm Boyaa Interactive International, which currently holds 2410 BTC, as Asiaโs largest corporate Bitcoin hoarder, according to data from BitBo. Itโs also now the 12th-largest corporate Bitcoin holder globally.
Investors are clearly liking the moveโMetaplanetโs stock soared 20.93% on the Tokyo Stock Exchange, reaching 4,045 yen by 3:16 PM local time on March 5. Despite some volatility last week as Bitcoin slumped, Metaplanetโs stock remains one of the best performers, boasting gains of over 1,700% on a yearly timeframe.
This marks the Tokyo-headquartered firmโs second BTC buy for the week. As previously reported on March 3, Metaplanet snagged 156 BTC at an average price of $85,483 per coin, spending around $13.34 million.
Since the start of the year, the company has acquired a total of 794.5 BTC, which is in line with its aggressive accumulation strategy inspired by Michael Saylor-led strategy, which currently holds the title of the worldโs largest corporate holder of Bitcoin.
With its latest buys, Metaplanetโs year-to-date Bitcoin yield now stands at 45%, according to Gerovich. It hopes to stash 21,000 BTC by 2026.
To fuel its Bitcoin acquisition spree, the firm has been actively raising capital through bond issuances, most recently selling 4 billion yen (roughly $26.4 million) in zero-coupon bonds in February, followed by another 2 billion yen ( roughly $13.2 million) bond issuance on Feb. 27 under its 7th Series of Ordinary Bonds, set to mature in August 2025.
