Japan’s Metaplanet Buys $11.7M in Bitcoin, Upgraded to Mid-Cap on FTSE Japan Index

Metaplanet, a Tokyo-based bitcoin treasury firm, has expanded its cryptocurrency holdings with the purchase of an additional 103 BTC, worth about $11.7 million. The acquisition, disclosed Monday, was made at an average price of $113,491 per bitcoin, according to company filings.

This latest buy brings Metaplanet’s total reserves to 18,991 BTC. President Simon Gerovich noted on X that the firm has now invested roughly $1.95 billion in bitcoin since launching its accumulation strategy in April 2024. The company’s average purchase price across all holdings stands at $102,712 per bitcoin.

With its growing balance sheet, Metaplanet has climbed to seventh place among publicly traded companies with the largest bitcoin holdings, based on data from Bitcointreasuries. The firm’s aggressive strategy mirrors similar moves by corporations seeking to position bitcoin as a long-term reserve asset.

In another milestone, index provider FTSE Russell upgraded Metaplanet from small-cap to mid-cap status in its September review, adding the company to the FTSE Japan Index. Gerovich described the inclusion as “another important milestone on our journey as Japan’s leading bitcoin treasury company.”

Market reaction was mixed. Shares of Metaplanet rose about 3.5% in midday trading Monday, according to Yahoo Finance, though the stock is still down nearly 27% over the past month. Year-to-date, however, Metaplanet remains one of Japan’s standout performers with gains of nearly 148%.

Meanwhile, bitcoin itself traded lower at $113,148 late Sunday night, down 1.5% over the previous 24 hours, according to price data.