Japanese investment firm now holds 18,888 BTC valued at $2.2 billion
Japanese bitcoin treasury firm Metaplanet has added another 775 BTC worth $93 million to its reserves, reaffirming its bullish stance on the world’s largest cryptocurrency. The acquisition brings the company’s total bitcoin holdings to 18,888 BTC, valued at approximately $2.2 billion at current market prices.
Metaplanet president Simon Gerovich confirmed the purchase in a post on X, noting the average cost of the latest acquisition was $120,006 per bitcoin. Since launching its bitcoin accumulation strategy in April 2024, the firm has spent $1.94 billion on purchases at an average cost of $102,653 per bitcoin.
“18,888 BTC. Onward and upward,” Gerovich wrote, underscoring the company’s commitment to expanding its digital asset treasury. According to Bitcointreasuries data, Metaplanet now ranks seventh globally in bitcoin holdings.
Strong Earnings Despite Stock Pressure
The company’s aggressive crypto strategy comes alongside robust financial results. In the second quarter, Metaplanet reported 1.2 billion yen ($8.4 million) in revenue, marking a 41% increase quarter-on-quarter. Net income also swung to a profit of 11.1 billion yen ($75.1 million), compared to a 5 billion yen ($34.2 million) loss in the first quarter.
In its latest report, the firm projected full-year revenue of 3.4 billion yen and operating profit of 2.5 billion yen, supported by recurring income streams such as cash-secured-put premiums and treasury operations.
Despite strong earnings, Metaplanet’s stock fell 8.6% to 866 yen last Friday, though it regained some ground on Monday with a 0.6% midday rise.
Building Long-Term Resilience
Gerovich addressed recent investor concerns, saying:
“I hear the disappointment in the recent pullback. It’s natural to feel that way. But what gives us conviction is the foundation we are building.”
He highlighted that Metaplanet’s bitcoin income generation business has expanded for three consecutive quarters, providing resilience and supporting further accumulation. The strategy, he added, also offers flexibility to service potential future financing for treasury growth.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.