Metaplanet spent $222 million on bitcoin purchases in the second quarter, acquiring 2,823 coins at an average price of $78,608 each. The move brings the Japanese investment firm's total bitcoin holdings to 43,000 BTC, according to The Block.
The company has made bitcoin accumulation a core strategy. Earlier this year, Metaplanet announced plans to shift its treasury strategy toward bitcoin holdings, positioning the asset as a hedge against yen depreciation and inflation. The Q2 purchase follows prior acquisitions that have steadily grown its position since the pivot began.
At current market prices around $61,600, Metaplanet's 43,000 BTC position carries substantial unrealized gains from the average cost basis. The scale of the holding places it among the largest institutional bitcoin accumulators globally, though still below holdings by publicly listed firms like MicroStrategy.
Metaplanet has not disclosed detailed rationale beyond the currency-hedge thesis in recent filings reviewed by the newsroom. The firm has stated it views bitcoin accumulation as aligned with shareholder value creation in a low-rate, yen-weakness environment.