Metaplanet expands Bitcoin reserves amid market pullback
Japan-based Bitcoin treasury firm Metaplanet has announced the purchase of an additional 581 BTC, worth roughly $61 million, at an average price of $118,519 per coin.
The Aug. 12 acquisition brings its total holdings to 18,113 BTC, valued at about $1.83 billion at current market prices, reports Crypto News.
This follows a 463 BTC buy just last week, underscoring its push toward a year-end target of 30,000 BTC. Since pivoting from hospitality to a Bitcoin-first strategy last year, Metaplanet has become the world’s sixth-largest corporate holder of BTC.
Two-stage Bitcoin growth plan
CEO Simon Gerovich says the company’s Bitcoin strategy has two phases. The first centers on rapid accumulation via equity issuance and debt financing, with a goal of eventually owning 1% of Bitcoin’s total supply. The second will leverage its BTC reserves to secure financing for acquisitions in cash-generating businesses, potentially in digital banking and financial services. Gerovich frames the approach as a hedge against yen weakness and sovereign debt risks, aiming for what he calls “escape velocity” in BTC holdings.
Stock selloff after meteoric rise
Despite the aggressive buying, Metaplanet’s stock has dropped 37% over the past month and now trades 55% below its 2025 peak, slashing market capitalization from ¥1.14 trillion to ¥638 billion. The decline follows a parabolic rally earlier this year—shares were up over 15,000% from 2024 lows at their June high—making it one of the world’s best-performing equities. Profit-taking, combined with a broader pullback in Bitcoin treasury stocks such as MicroStrategy and MARA Holdings, has driven the selloff.
Metaplanet remains committed to its accumulation plan, recently announcing it will raise another $3.7 billion for BTC purchases. Year-to-date, the stock is still up 175%, and Bitcoin itself has gained about 3.8% over the past week, briefly crossing $122,000 before easing to around $118,706. With the company’s long-term goal still in focus, its buying spree signals confidence in Bitcoin’s trajectory despite equity market volatility.
Recently we wrote that Japan-based publicly listed company Metaplanet, known for its aggressive Bitcoin strategy, has announced plans to issue two new classes of preferred shares—Class A and Class B—as part of a broader initiative to expand its cryptocurrency reserves.
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