Japan’s leading bitcoin treasury firm, Metaplanet, has made a massive move in the crypto market by acquiring 1,009 bitcoin (BTC) worth around 16.48 billion yen ($112 million), pushing its total holdings to 20,000 BTC. The company revealed the purchase on Monday, noting an average purchase price of $111,057.5 per Bitcoin, or 16,331,984 yen.
With this milestone, Metaplanet now ranks as the sixth-largest public bitcoin treasury company globally, likely overtaking Riot Platforms, according to Bitcoin Treasuries data.
This acquisition reflects the firm’s strategy to rapidly accumulate BTC. Just under three months ago, the firm held 10,000 BTC. Earlier this year, it revised its year-end target from 10,000 BTC to 30,000 BTC, signaling strong confidence in bitcoin’s long-term potential.
Metaplanet also stated that it would raise 130 billion yen ($881 million) by an international share offering. The majority of the funds will be spent on purchasing more bitcoin within the next two months, which will further establish itself in the crypto treasury market.
Despite this aggressive expansion, Metaplanet’s stock dropped 4.10% in Japan on Monday morning, while its U.S.-listed shares closed last Friday slightly up at $6.11. Meanwhile, bitcoin traded at $107,403, down 1.25% in the past 24 hours, showing normal market volatility.
Metaplanet’s fast-growing bitcoin holdings highlight a new wave of corporate confidence in cryptocurrency. Investors and crypto enthusiasts are currently keeping a close eye on whether the company can meet its ambitious 30,000 BTC goal by the end of the year.