Metaplanet Acquires 497 BTC, Overtakes Boyaa Interactive as Asia’s Leading Corporate Holder

Metaplanet, a Japanese firm, has become the largest corporate holder of Bitcoin in Asia following its recent purchase of 497 BTC. The company spent nearly $44 million to acquire these additional coins on March 5, bringing its total Bitcoin holdings to 2,888 BTC, valued at over $251 million (based on Bitcoin’s price of $87,198 at the time). This move has propelled Metaplanet past Boyaa Interactive, a Chinese gaming company, which previously held the top spot in Asia with 2,410 BTC.

Metaplanet’s recent purchases came after Bitcoin dropped over 8% on March 4 due to concerns over a potential trade war and new tariffs from the U.S. The firm took advantage of the price dip, following a strategy inspired by Michael Saylor’s approach with MicroStrategy, the largest corporate holder of Bitcoin globally.

This acquisition marks Metaplanet’s second Bitcoin buy in March, as it had previously acquired 156 BTC on March 3, spending about $13.34 million. Since the start of the year, Metaplanet has added 794.5 BTC to its holdings, and its year-to-date yield now stands at 45%. The company has set a target to accumulate 21,000 BTC by 2026.

The market has responded positively to the company’s aggressive Bitcoin acquisition strategy. Metaplanet’s stock surged by 20.93% on the Tokyo Stock Exchange on March 5, reaching 4,045 yen per share. Over the past year, its stock has gained an impressive 1,700%, signaling strong investor confidence in its strategy.

To fund its Bitcoin purchases, Metaplanet has raised capital through bond issuances. In February 2024, it sold 4 billion yen (approximately $26.4 million) in zero-coupon bonds, followed by another 2 billion yen ($13.2 million) issuance on February 27, under its 7th Series of Ordinary Bonds, maturing in August 2025. This funding strategy is helping fuel the company’s aggressive Bitcoin acquisition plans.

Metaplanet’s rising Bitcoin holdings and the strategic moves it’s making in the crypto space highlight its growing influence and ambition within the corporate Bitcoin accumulation trend.