In a bold move shaking up the crypto landscape, Japanese Bitcoin treasury firm Metaplanet has skyrocketed its Bitcoin reserve to an impressive 20,136 BTC, valued at a staggering $2.08 billion. This latest acquisition adds 136 BTC, approximately worth $15.2 million, as the company aims to mirror strategies similar to groundbreaking institutions like El Salvador and MicroStrategy.

Despite Bitcoin's recent tumble from its peak near $125,000 to just below $115,000, investor enthusiasm remains undeterred. Metaplanet's CEO, Simon Gerovich, celebrated this strategic purchase on X (formerly Twitter), reinforcing the company's commitment to accumulate even more, well past its initial targets of 10,000 BTC by 2025 and 21,000 BTC by 2026.

With the average acquisition cost for Metaplanet at $103,196 per coin, this aggressive strategy positions them as a formidable player in the Bitcoin arena, ranking sixth globally among public companies by their Bitcoin holdings. Notable competitors in this space include the likes of MicroStrategy, Marathon Digital, and others.

However, the company faced challenges in the stock market as Metaplanet shares fell nearly 10% to £614.00 on the day of the announcement, with a nearly 30% drop over the past month. Nevertheless, the stock has impressively gained 101% since the beginning of the year.

Metaplanet also updated investors by revealing activity related to its stock acquisition rights, adding over 739 million shares in late August, bringing the total to 751.2 million shares issued.

On a brighter note, Bitcoin demonstrated resilience amid market fluctuations, trading at $113,037.44—a 1.63% increase over the past 24 hours.

Reactions from the crypto community have been overwhelmingly positive. One user on X remarked on Metaplanet's impressive accumulation strategy, while another cleverly cautioned the importance of balancing ambition with enjoyment of the journey.

In the wider crypto landscape, Metaplanet's expansion aligns with trends seen in other major entities. El Salvador, celebrating its fourth anniversary of Bitcoin adoption, recently purchased more BTC, increasing its national reserve to over 6,313 BTC, valued around $702 million. Meanwhile, MicroStrategy continues its reign as the largest public company holder of Bitcoin.