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Shares of Japan-based investment firm Metaplanet soared 20% after it announced it’s buying the dip with another 497 Bitcoin.
In an X post earlier today, CEO Simon Gerovich said Metaplanet bought the BTC at around $88,448 per coin, putting the total spend at approximately $43.9 million.
Metaplanet Buys Bitcoin At A Discount
Metaplanet’s latest Bitcoin purchase came after the broader crypto market underwent a steep correction fueled by fears of a global trade war after Donald Trump followed through with threats to impose tariffs on Canada and Mexico and to increase those already on China.
The largest crypto by market cap saw its price plunge to as low as $81,500 during yesterday’s trading session, according to TradingView data. In the last 24 hours, BTC has recovered 3% to trade at $87,096.14 as of 1:25 a.m. EST.
Metaplanet pounced on the opportunity to acquire more BTC at a lower price. In its March 5 disclosure, the investment firm said that the recent Bitcoin buy has pushed its holdings to 2,888 BTC.
With the crypto market leader’s current price, the company’s Bitcoin stash is valued at over $251.5 million.
According to the disclosure, the average purchase price stands at $82,240 per coin. The company has also achieved a year-to-date yield of 45%.
Ladies and gentlemen, we have blast off 🚀 pic.twitter.com/wlToyoyLrR
— Simon Gerovich (@gerovich) March 5, 2025
Metaplanet Aims To Buy 21,000 Bitcoin By 2026
So far this year, Metaplanet has purchased 794.5 BTC. These acquisitions are part of the company’s goal to stack up 21,000 BTC by 2026.
Metaplanet is already the 12th-largest corporate Bitcoin holder worldwide, and is the largest in Asia after it surpassed the Hong Kong-based gaming firm Boyaa Interactive, according to data from BiTBO.
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