Metaplanet, a Japanese bitcoin treasury firm, has acquired another 775 BTC for roughly $93 million as the company maintains its bullish outlook for the world’s largest cryptocurrency.
Simon Gerovich, president of Metaplanet, wrote on X on Monday that the company bought an additional 775 BTC at an average cost of $120,006 each. This brought its total bitcoin holdings to 18,888 BTC, which cost a combined $1.94 billion with an overall average purchase price of $102,653 per bitcoin.
“18,888 BTC. Onward and upward,” said Gerovich.
Metaplanet, which launched its bitcoin accumulation strategy in April 2024, now ranks seventh globally in bitcoin holdings, according to Bitcointreasuries data.
The company posted strong earnings during the second quarter, with its total revenue reaching 1.2 billion yen ($8.4 million), up 41% quarter-on-quarter, according to its latest quarterly report released last week. Its net income swung to a profit of 11.1 billion yen ($75.1 million), compared to a loss of 5 billion yen ($34.2 million) in the first quarter.
“We continue to project full-year revenue of 3.4 billion yen and operating profit of 2.5 billion yen, supported by recurring cash-secured-put premiums and operational performance,” said Metaplanet in the second-quarter report.
However, Metaplanet’s stock fell 8.6% to close at 866 yen on Friday in Japan, according to Yahoo Finance data. The stock edged up 0.6% around midday in Japan on Monday, with the market still open.
“I hear the disappointment in the recent pullback,” said Gerovich on Sunday. “It’s natural to feel that way. But what gives us conviction is the foundation we are building.”
Gerovich added that the company’s bitcoin income generation business has expanded for three consecutive quarters. “This recurring income adds resilience and supports further accumulation,” he said. “This also gives us flexibility to service potential future financing to enhance our treasury operations.”
Bitcoin fell 2.1% in the past 24 hours to trade at $115,305 as of 12:10 a.m. ET Monday, according to The Block’s bitcoin price page.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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