Japan’s Metaplanet has significantly expanded its Bitcoin reserves, acquiring 696 BTC for approximately 10.2 billion yen ($67 million), as revealed in an April 1 update on X.
This latest investment brings Metaplanet’s total Bitcoin holdings to 4,046 BTC, now valued at over $341 million.
Stock Split Aims to Boost Investor Accessibility
The Bitcoin purchase follows Metaplanet’s recent issuance of 2 billion yen ($13.3 million) in bonds to fund additional BTC acquisitions.
Additionally, the move coincides with the company’s 10-to-1 reverse stock split. In a February 18 filing, Metaplanet acknowledged that its stock price had climbed substantially, making it less accessible to retail investors.
“To address this, we consolidated 10 shares into 1. As a result, the share price increased significantly, and the minimum investment required now exceeds 500,000 yen, posing a considerable challenge for investors,” the company stated.
By restructuring its shares, Metaplanet aims to enhance market liquidity and attract a broader investor base. The stock split was officially completed on March 28, as reported by investing.com.
Often dubbed “Asia’s MicroStrategy,” Metaplanet is on a mission to amass 21,000 BTC by 2026 to strengthen Bitcoin adoption in Japan. With its current 4,046 BTC stash, the firm ranks as the ninth-largest corporate Bitcoin holder worldwide, according to Bitbo.
Capitalizing on the Bitcoin Dip
Metaplanet’s latest purchase comes amid a surge in institutional Bitcoin acquisitions. On March 31, Michael Saylor’s Strategy announced it had acquired 22,048 BTC for $1.92 billion, at an average price of $86,969 per coin.
Following this acquisition, Strategy now holds over 528,000 BTC, secured at an average cost of $67,458 per Bitcoin, amounting to a total investment of $35.6 billion, Saylor confirmed in an X post.
Despite market uncertainty surrounding US President Donald Trump’s expected trade tariff announcement, institutions continue to demonstrate confidence in Bitcoin. The upcoming April 2 statement is anticipated to introduce reciprocal tariffs on major US trade partners, which could heighten inflation concerns and impact risk asset demand.
“Market sentiment remains cautious as traders assess the potential impact of President Trump’s tariff policies and ongoing macroeconomic uncertainty,” noted Nexo analyst Iliya Kalchev.
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