Japanese investment firm Metaplanet continues to actively buy up bitcoin.
Metaplanet now has a total of 3 350 BTC that were purchased for about $278.8 million, as reported by CEO Simon Gerovich. At current market prices, the firm's cryptocurrency assets are valued at $291.3 million.
The purchase comes after Eric Trump, the second son of Donald Trump, joined the company's Strategic Board of Directors on March 21.
According to Gerowitz, Herowitz's "business expertise and passion for BTC" Eric Trump will help realize the company's mission to create "one of the world's leading bitcoin treasury companies."
Ambitious Plans
Metaplanet has been consistently increasing their investment in the largest cryptocurrency since April 2024, when the company unveiled their bitcoin acquisition strategy. Their goal is to accumulate 10 000 BTC by the end of 2025 and 21 000 BTC by the end of 2026.
According to Bitcointreasuries.net, the Japanese firm is currently ranked 10th among publicly traded corporate bitcoin holders globally and first in Asia. The leader of the ranking remains Strategy's Michael Saylor with nearly 500 000 BTC.
Metaplanet shares were up 4.8% on the Japanese exchange during the afternoon trading session at the time of writing. Google Finance data shows that the company's share price is up 38.7% since the beginning of the year.
Metaplanet's decision to engage Eric Trump and increase its investment in bitcoin demonstrates the growing institutional acceptance of cryptocurrency as a reliable asset. With each such purchase by large companies, it is increasingly difficult to deny that digital assets are firmly embedded in corporate investment strategies.
