Metaplanet Expands Its Bitcoin Portfolio by Adding 1,004 BTC to Its Holdings

The latest purchase cost Metaplanet 15.2 billion yen, or around $104.6 million. This marked its second-largest single Bitcoin buy so far.

Japanese investment firm Metaplanet is making headlines again for its massive Bitcoin buys. In the latest purchase disclosed on May 19, the company added 1,004 Bitcoin to its portfolio at a cost of 15.2 billion yen, or around $104.6 million.

This marked Metaplanet’s second-largest single Bitcoin buy so far. Its largest previous purchase was just a week earlier, on May 12, when it scooped up 1,241 Bitcoin for $129 million. That move pushed the company's total holdings past those of El Salvador, a country known for its aggressive Bitcoin accumulation policy.

The company's total Bitcoin holdings have now reached 7,800 coins, which currently trade at a market value of roughly $807 million. The firm also reported a BTC yield of 95.6% for the first quarter, and the second quarter currently sits at a 47.8% return, measured by the change in Bitcoin per fully diluted share.

Metaplanet Among Top Asian Bitcoin Holders

Along with expanding its Bitcoin reserves, Metaplanet's stock rose 9.63% in today’s trading session. It closed at ¥683 and briefly reached ¥715 during the day, as reported by Yahoo Finance. Investor confidence appears to be tracking with the firm's Bitcoin purchases.

Metaplanet now holds more Bitcoin than any other public company in Asia and ranks tenth worldwide, according to data from BiTBO. Its aggressive buying streak has become one of the fastest-paced among public firms, with a total of 2,800 Bitcoin added in May alone.

In April, the company made four separate Bitcoin purchases totaling 794 coins. March saw six purchases, bringing in 1,655 Bitcoin. The increase in activity suggests the company is placing more focus on Bitcoin as a core holding.

However, even with its rapid pace of accumulation, Metaplanet's Bitcoin stash pales in comparison to that of Michael Saylor's Strategy, which remains the largest corporate Bitcoin holder. Strategy currently owns 568,840 Bitcoin valued at around $59 billion, representing 77% of all growth in corporate Bitcoin holdings this year.

Bitcoin Poised for $116,000 Breakout

At present, Bitcoin is trading at $103,029, just 5.72% below its all-time high. Traders have been calling for a move toward $116,000 soon. One trader, Alan, shared on Sunday May 18, "Next early week Bitcoin target: $116,000," and pointed to a converging triangle with dropping volume as a possible sign of an incoming breakout.

"$BTC is brewing within this converging triangle with decreasing volume,” Alan noted.

Traders remain bullish, with most expecting Bitcoin to test previous highs soon. A weekend prediction put Bitcoin near the $116,000 mark within days. The broader market sentiment leans toward renewed price discovery, as recent trading has shown little volatility.