Japanese firm Metaplanet has continued its massive Bitcoin accumulation, purchasing 555 coins for an estimated ¥7.6 billion ($53.5 million) as the price trades above $97,000.
According to a recent filing, Metaplanet has bought 555 Bitcoin at an average price of ¥1368.6 on August 16. The company now holds 5,555 BTC, valued at approximately $537 million at current prices.
The company also announced plans to issue an additional ¥3.6 billion ($25 million) in zero-coupon bonds to EVO FUND, which will be used in part for more Bitcoin acquisitions.
The company's shares responded positively to the announcement, closing up 11.45% at ¥477 on the Tokyo Stock Exchange.
These purchases will have a minimal impact on the company's consolidated financial results for fiscal year 2025.
Bitcoin reacted to the US-China tariff news by climbing above $97,000, trading at $97,018 at press time, up 3.38% over the past 24 hours.
The price surge comes amid strong institutional demand, with BlackRock’s IBIT recording inflows of 5,613 BTC (529.5 million) on Monday alone.
Earlier this week, Strategy announced plans to raise $84 billion for Bitcoin purchases. The company currently holds 555,450 BTC. However, it has been surpassed by BlackRock’s iShares Bitcoin Trust (IBIT), which now controls over 620,000 BTC worth $58.5 billion.
