Bitcoin’s (BTC) holiday-week performance kicked off in the red, with Japanese company Metaplanet announcing its largest-ever BTC purchase.

Tokyo-listed Metaplanet revealed it had acquired 619.70 BTC for 9.5 billion yen (approximately $61 million), increasing its Bitcoin holdings by a staggering 54%. This brings the company’s total BTC holdings to 1,762 BTC, purchased at an average price of 11.85 million yen per Bitcoin.

Between October 1 and December 23, Metaplanet reported a 309.82% BTC yield, significantly outperforming the 41.7% yield it achieved in the prior quarter.

Since adopting its Bitcoin accumulation strategy in April, Metaplanet has executed 19 separate BTC purchases, leveraging capital market activities and operating income. To fund its latest acquisition, the company issued a $5 billion yen zero-coupon bond maturing in June 2025, with early redemption options tied to stock acquisition rights.

Metaplanet’s ambitious strategy has propelled its stock price up 2,100% this year, solidifying its position as the 15th-largest publicly traded Bitcoin holder.

Source: X

Market Declines Persist

Despite Metaplanet’s record purchase, Bitcoin prices remained under pressure. BTC fell 1.5% in the past 24 hours to around $95,500, according to BNC data. Analysts attribute the market’s bearish sentiment to a combination of factors, including the Federal Reserve’s recent hawkish tone and reduced trading activity ahead of the holidays. As the holiday season unfolds, crypto market participants remain cautious. While Metaplanet’s bold BTC acquisition underscores the institutional interest in Bitcoin, short-term price action suggests lingering uncertainty, with lower liquidity and macroeconomic concerns likely to influence market movements.

Source: Brave New Coin Bitcoin Liquid Index