Japanese company Metaplanet is now the tenth-largest holder of Bitcoin after making a $28 million investment in Bitcoin, taking the firm’s holdings to more than $400 million.
Metaplanet is Japan’s first publicly listed Bitcoin treasury company. The company was created in 1999 and is headquartered in Tokyo.
The investment firm acquired a total of 330 BTC, according to an X post on Monday by Metaplanet’s CEO, Simon Gerovich.
The purchase secures Metaplanet’s position in league with companies such as Marathon Digital Holdings, Strategy, Galaxy Digital Holdings, and Coinbase Global, all of which are ranked among the top 10 corporate holders of Bitcoin, according to CoinGecko.
Similar to Strategy and other companies in the top 10, Metaplanet regularly buys BTC. The company’s last purchase was on the 14th of April, buying 319 tokens at an average price of $83,147 for a total purchase price of $26.3 million.
On the 31st of March, Metaplanet issued 2 billion Japanese Yen worth of bonds to buy more Bitcoin.
Metaplanet’s long-term vision is to drive the adoption of the world’s most popular cryptocurrency across Japan. The company’s latest investment is part of a plan to increase its holdings to 21,000 BTC by 2026, as reported by Cointelegraph.