
Japan's Metaplanet Invests Another $28.2 Million in Bitcoin Amid U.S. Tariff Concerns
Japanese investment firm Metaplanet has expanded its Bitcoin reserves despite market turbulence caused by changes in U.S. tariff policies.
Japan’s Metaplanet Invests Another $28.2 Million in Bitcoin Amid U.S. Tariff Concerns
Japanese investment firm Metaplanet has recently added 330 Bitcoin (BTC) to its portfolio, spending around $28.2 million, as it continues to reinforce its interest in cryptocurrencies. This decision comes despite uncertainties in the global marketplace stemming from adjustments in U.S. tariff regulations.
The firm made the announcement on Monday, indicating that it acquired these BTC at an average price of 12.18 million yen, approximately $85,605 per Bitcoin.
This acquisition marks Metaplanet’s third Bitcoin purchase in April, increasing its total holdings to 4,855 BTC. Notably, the firm also acquired 319 BTC last week at an average price of 12.85 million yen (around $82,549 per coin).
Metaplanet’s Latest Bitcoin Purchase Aligns With BTC Surge Past $87K
This latest investment aligns with Bitcoin’s surge over $87,000, indicating a growing bullish market sentiment despite ongoing trade tensions.
Beginning in April 2024, Metaplanet has been following an aggressive Bitcoin acquisition strategy, purchasing 809 BTC this month alone as it aims for a year-end target of 10,000 BTC.
With these acquisitions, Metaplanet now stands as Asia’s largest corporate Bitcoin holder and is ranked tenth globally, with an average purchase price of $89,928 per Bitcoin.
Metaplanet Purchases Additional 330 BTC Source: Metaplanet Twitter
Furthermore, Metaplanet has mirrored the strategy of Michael Saylor’s firm, which has been a long-time proponent of Bitcoin as a reserve asset.
Moreover, the Trump administration has initiated two national initiatives: the Strategic Bitcoin Reserve, using seized BTC, and a Digital Asset Stockpile for other confiscated cryptocurrencies. In the US, 47 Bitcoin reserve bills are active across 26 states.
With shares trading higher, Metaplanet’s stock saw a 0.85% increase on the Tokyo Stock Exchange. Since adopting its Bitcoin strategy last year, the stock has surged over 1,080%.
Key Takeaways:
- Metaplanet added 330 BTC to its holdings, totaling 4,855 BTC.
- The latest buy corresponds with Bitcoin’s rise above $87,000, showcasing persistent bullish sentiment.
- This Bitcoin strategy has catapulted Metaplanet’s stock over 1,080%, establishing it as a key player in the global crypto landscape.