Publicly-listed Metaplanet announced fresh bitcoin (BTC) purchases on Monday as BTC went above $87,300, reversing last week’s loses.
Metaplanet picked up 330 BTC bring its overall holdings to 4,855 BTC, worth over $420 million, based on current prices.
This is the Japanese firm’s third bitcoin purchase this month, even as broader markets reel from tariff concerns amid a general lack of optimism. Earlier this month, Metaplanet became the tenth-largest public holder of BTC.
However, Metaplanet is not the only Japanese firm raking up bitcoin.Fashion brand ANAP Holdings purchase approximately 16.6591 BTC, valued at around 200 million yen (approximately $1.4 million), last week.
The holdings will be overseen by its subsidiary, ANAP Lightning Capital. The company plans to conduct quarterly market value assessments of its BTC holdings, with any gains or losses reflected in its profit and loss statements.
Its BTC yield from quarter-to-date is at 12.1% so far, with the previous quarter’s yield at 95%. BTC Yield is a custom metric used by the firm to assess the performance of its strategy. This measures the growth of bitcoin per fully diluted share.
Bitcoin has fared relatively better than U.S. equities in such a time of financial instability. U.S. equities lost $5.4 trillion in value in two days after President Trump unveiled his reciprocal tariffs earlier in April, which sent the Nasdaq tumbling down 11% at the time. BTC fell a relatively smaller 6%, in comparison.
Metaplanet’s stock on the Tokyo Stock Exchange is up nearly 0.9% since open.