Metaplanet Inc. Boosts Bitcoin Holdings as Price Recovers

Metaplanet Inc. Expands Bitcoin Holdings

Japan-based Metaplanet Inc., following in the footsteps of Michael Saylor's Bitcoin strategy, has made another significant purchase of 497 Bitcoins, valued at approximately $43.9 million. This brings the company's total Bitcoin holdings to 2,888 BTC, acquired at an average price of $83,172 per coin. CEO Simon Gerovich highlighted that the company has achieved a 45.1% Bitcoin yield year-to-date for its shareholders as of March 5.

Michael Saylor, a vocal Bitcoin advocate and Executive Chairman of Strategy, drew attention to Metaplanet's latest purchase on X, stating, "Metaplanet is bringing BTC Yield to Japan." This comes as Strategy itself has paused its Bitcoin accumulation, holding 499,096 BTC worth over $46 billion as of March 2.

Strategy Pauses Bitcoin Accumulation

While Metaplanet continues to accelerate its Bitcoin purchases, Strategy has halted its aggressive accumulation strategy. Despite this, Strategy recently raised a record $2 billion through an investment offering, adding $2 billion worth of Bitcoin to its balance sheet. However, no new purchases have been announced this week, sparking some concern among Bitcoin enthusiasts.

Bitcoin Price Shows Recovery

After an 11.7% price crash between March 3 and March 4, Bitcoin has staged a significant recovery, rising 7.44% over the past day. The cryptocurrency climbed from $82,760 to $88,360, reflecting renewed market optimism despite earlier liquidations totaling $1 billion. This recovery underscores Bitcoin's resilience amid ongoing market volatility.

Metaplanet's strategic Bitcoin acquisitions and the broader market's price movements highlight the continued interest and investment in the leading cryptocurrency.