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- Metaplanet now holds over $2 billion worth of bitcoin.
- The company targets 1% of total bitcoin supply by 2027.
- Bitcoin revenue helped boost Metaplanet’s stock and performance.
Metaplanet has purchased 780 more bitcoin in a deal valued at approximately $92.5 million. The company confirmed the acquisition was made at an average price of $118,622 per bitcoin.
The latest buy brings Metaplanet’s total number of bitcoins held to 17,132 BTC. Current market rates value the company’s bitcoins at around $2 billion.
Metaplanet is currently the seventh-largest publicly traded bitcoin owner in the world. This is founded on publicly disclosed information posted by Bitcointreasuries, which monitors corporate holdings.
As CEO, Simon Gerovich declared on X that this company’s BTC purchase totaled an average of $101,030. Metaplanet was initiated through its bitcoin accumulation strategy in April 2024 and proved to grow rapidly.
In June, the company revised its long-term goal of having over 210,000 BTC in 2027. The target is about 1 percent of the capped supply of bitcoin.
This objective reflects how confident the company is in the long-term potential of bitcoin as a strategic resource. It is also an indication of Metaplanet’s intention to become a significant player in the crypto arena.
Also Read: $1.15B Ethereum Exodus Sparks Major Shift Toward Institutional Control
Revenue Growth Supports Metaplanet’s Bitcoin Ambitions
The crypto-focused business of Metaplanet has also portrayed a thriving portfolio in the recent financial reports. In the second quarter of this year, the firm had a revenue of 1.1 billion yen.
At the current exchange rates, this amount is equal to about $7.6 million. It is also a 42.4 percent increase over last year’s earnings in a quarter.
Driven by its bitcoin-related business activities, the company attributes the recent growth to this expanding segment. Strong revenue performance allows the company to continue investing in digital assets and supporting infrastructure.
Investors were positively receptive to the company’s new decision to invest in Bitcoin. In midday trading on Monday, the shares rose 5.6 percent to 1,247 yen, or approximately $8.4.
The stock dropped by 16.3 percent last month, but profits are still high on an annual basis. As of now, Metaplanet stocks are still in an upward trend by over 258 percent as per Yahoo Finance.
In the meantime, bitcoin increased by 0.9 percent over 24 hours to gain a market price of 119,267. The minor increase in the cost of bitcoin occurred during the days after Metaplanet had announced its strategic policy of aggressive acquisition.
Metaplanet is still aggressively pursuing its gamble on Bitcoin with financial expansion. Its vision of holding 1 percent of the bitcoin supply in the long term continues to dominate its corporate vision.
Also Read: Senator Lummis Declares Bitcoin Is “Freedom Money” for All Americans
