Metaplanet Inc surpasses 5,000 BTC after purchasing 145 more Bitcoin, aiming for 10,000 BTC by 2025. The broader Bitcoin market shows division among traders, as the current price stabilizes around $92,530. This draws attention to the ongoing volatility amid Metaplanet’s expansion and wider market caution.
Metaplanet Surpasses 5,000 BTC as Market Tempts Traders Differently
Japanese investment firm Metaplanet Inc has crossed an important threshold, surpassing 5,000 Bitcoin in its portfolio after a recent acquisition of 145 BTC. This move marks a key milestone in Metaplanet’s ambition, as they aim to boost their total holdings to 10,000 BTC by the end of 2025 amidst the ongoing global uptick in Bitcoin adoption.
The company confirmed that the latest purchase was made for approximately ¥1.9 billion, translating to about $13.6 million. Each Bitcoin was bought at an average price of around ¥13.28 million, or over $93,000. Now, Metaplanet’s total Bitcoin holdings sit close to $428 million, at least at today’s rates.
This acquisition is a major piece of what Metaplanet calls the “21 Million Plan”. This grand strategy is focused on systematically increasing their Bitcoin reserve. Their declared goal is not only to reach 10,000 BTC by 2025 but also to hit 21,000 BTC by the end of 2026.
In fact, just this month, Metaplanet has made headlines by acquiring over 1,650 Bitcoins through several transactions that total nearly $153 million. Recently, they became the ninth-largest public Bitcoin holder worldwide after snapping up 319 Bitcoins.
Simon Gerovich, CEO of Metaplanet, took to X to express pride in this achievement. He sees it as a significant step toward positioning the company as a leader in the global Bitcoin market, with Japan as their launchpad. Since they kicked off their Bitcoin strategy in mid-2024, Metaplanet has secured about $745 million in funding, which they have dubbed Asia’s largest ever capital raise in this sector.
Traders Divided as Bitcoin Stabilises
Despite Metaplanet’s aggressive accumulation, the broader cryptocurrency landscape appears to be at an impasse. Current statistics from BTCTN indicate that traders are almost evenly split in their positions on Bitcoin, with a 49.6% long vs 50.4% short ratio. This indicates a general wariness as traders keep a close watch on market dynamics, especially as Bitcoin shows signs of slowing down.
Right now, Bitcoin is priced at $92,530, which reflects a drop of approximately 1.82% over the past 24 hours. Earlier this week, it had surged to a high of around $94,535, but now the market seems to be in a consolidation stage. Analysts are pondering whether this represents a calm before a storm of volatility or a sign of an impending reversal.
As Metaplanet continues to add to its holdings in this backdrop of market uncertainty, it demonstrates their long-term belief in Bitcoin’s potential. However, volatility hasn’t bypassed Metaplanet either, as their shares took a hit, falling 4.57% to $2.49. Meanwhile, another corporate player in the digital asset space, Strategy, acquired a substantial $555.8 million in BTC, boosting its stake among major corporate Bitcoin holders.
Disclaimer: This article aims to deliver timely and accurate information but doesn’t constitute financial advice. Market conditions can change rapidly. It’s wise to conduct personal research or consult a professional before making investment decisions.
