Metaplanet adds $67M in Bitcoin following 10-to-1 stock split

2 months ago

Japan-based Metaplanet has expanded its Bitcoin holdings, purchasing 696 BTC for 10.152 cardinal yen ($67 million), the institution announced successful an April 1 station connected X.

The investment pushes Metaplanet’s full Bitcoin stash to 4,046 BTC, valued astatine implicit $341 cardinal astatine the clip of writing.

Stock divided targets capitalist accessibility

The acquisition comes soon after Metaplanet issued 2 billion Japanese yen ($13.3 million) of bonds to bargain much BTC, Cointelegraph reported connected March 31.

The determination besides comes soon aft Metaplanet’s 10-to-1 reverse banal split. The institution had antecedently warned successful a Feb. 18 filing that its stock terms had risen significantly, creating a precocious obstruction to introduction for retail investors.

“We implemented a reverse banal divided consolidating 10 shares into 1. Since then, our banal terms has risen significantly, and the minimum magnitude required to acquisition our shares connected the marketplace has present exceeded 500,000 yen, creating a important fiscal load for investors,” according to a Feb. 18 notice.

The banal divided aims to little the terms per trading portion to amended liquidity and grow the firm’s capitalist base.

The 10-to-1 banal divided was completed connected March 28, according to investing.com.

Metaplanet, often referred to arsenic “Asia’s MicroStrategy,” aims to accumulate 21,000 BTC by 2026 arsenic portion of its strategy to pb Bitcoin adoption successful Japan. With 4,046 BTC successful its treasury, it presently ranks arsenic the ninth-largest firm Bitcoin holder globally, according to Bitbo data.

Strategy is besides buying the Bitcoin dip

Metaplanet’s acquisition comes during a play of organization dip buying, with Michael Saylor’s Strategy announcing its latest acquisition connected March 31. Strategy purchased 22,048 Bitcoin for $1.92 cardinal astatine an mean terms of $86,969 per Bitcoin successful its latest play BTC haul.

The institution present holds implicit 528,000 Bitcoin acquired for $35.63 cardinal astatine an mean terms of $67,458 per BTC, Saylor said successful a March 31 X post.

Institutions are showing assurance successful Bitcoin contempt the planetary marketplace uncertainty astir US President Donald Trump’s looming tariff announcement, which whitethorn make important volatility successful some crypto and accepted markets.

“Risk appetite remains muted amid tariff threats from President Trump and ongoing macro uncertainty,” Nexo dispatch expert Iliya Kalchev told Cointelegraph.

The April 2 announcement is expected to item reciprocal commercialized tariffs targeting apical US trading partners, a improvement that whitethorn summation inflation-related concerns and bounds request for hazard assets similar Bitcoin.