Japanese investment firm Metaplanet has spent $126.7 million to buy 1,241 BTC in its latest acquisition. This increased its total holdings to 6,796 BTC, valued at $608.2 million at $89,492 per token. Simon Gerovich, Metaplanet’s Chief Executive Officer (CEO), broke the latest purchase news on X, sparking widespread reactions among market participants.
According to the CEO, Metaplanet spent an average of $102,119 per BTC in its latest procurement. In addition, the company’s year-to-date returns have soared to about 170%.
On its verified X handle, Metaplanet noted that it funded the Bitcoin investments via capital market activities and operating income. The company also disclosed its quarterly yield from when it started purchasing BTC.
Metaplanet Intensifies BTC Purchases in May
In April, Metaplanet announced five Bitcoin acquisitions, totalling $149.1 million for 1,650 BTC. However, Metaplanet has purchased Bitcoin twice in May.
Metaplanet’s first purchase of the month was on May 7. The investment firm added 555 BTC to its Bitcoin stash after spending $53.4 million, acquiring BTC at $96,134 per token.
Overall, Metaplanet has spent $180.1 million purchasing Bitcoin this month. In addition, Metaplanet has procured 1,796 BTC in May, exceeding the total amount the investment firm bought in April.
Metaplanet Now Owns More BTC than El Salvador
In a May 12 tweet, Gerovich reflected on Metaplanet’s Bitcoin investments. The CEO noted that Metaplanet’s Bitcoin holdings have exceeded El Salvador’s. “From humble beginnings to rivalling nation-states, we are just getting started,” Gerovich added.
On May 11, news broke out that El Salvador bought an additional 7 BTC, increasing the amount of tokens in its national reserve to 6,173 BTC, valued at over $637 million. In December 2024, El Salvador and the International Monetary Fund (IMF) sealed a $1.4 billion loan deal.
The agreement stipulates that the Central American nation must nullify the Bitcoin legal tender rule and embrace voluntary BTC payments. The deal also prohibited El Salvador from using public funds for its Bitcoin investments. However, the Central American nation has flaunted the agreement with consistent BTC acquisitions.
Earlier this year, the IMF reminded El Salvador of their agreement. In response, El Salvador’s President Nayib Bukele rejected the IMF request. He stated that his country would not bow to pressure from the IMF. Instead, the nation will intensify its Bitcoin investments.
