Japan-based investment firm Metaplanet has emerged as a formidable player in the cryptocurrency arena with its recent acquisition strategy. With over 1,000 Bitcoin (BTC) now in its portfolio, Metaplanet has positioned itself prominently among Asia’s leading corporate holders of this digital asset.
Metaplanet’s Bitcoin Holdings Surpass 1,000 BTC
On October 28, Metaplanet, listed on the Tokyo Stock Exchange, made a significant announcement regarding its Bitcoin portfolio. The firm acquired an additional 156.78 BTC at a strategic average price of $66,436 per BTC. This purchase elevated Metaplanet’s total Bitcoin holdings to 1,018 BTC, acquired at an average rate of $61,629 per BTC.
CEO’s Insight on the Milestone
Simon Gerovich, CEO of Metaplanet, commented on this achievement, stating, “This latest BTC purchase makes Metaplanet one of the largest corporate holders of Bitcoin in Asia.” The company emphasized its commitment to Bitcoin as a treasury reserve asset, a strategy supported by acquisitions fueled by capital market activities and operational income.
Strategic Reserve Asset
Metaplanet’s journey to embrace Bitcoin as a strategic reserve asset began in May 2024. The firm adheres to a “Bitcoin-first, Bitcoin-only” policy, which saw a notable $2 million purchase in September. The summer marked an aggressive acquisition spree for Metaplanet, where they secured more than 620 BTC, over 50% of their overall holdings, within a month from September 30 to October 28.
Outpacing Competitors
Metaplanet’s strategic moves have positioned it ahead of other notable Asian firms, such as Meitu Inc., in terms of BTC reserves. CoinGecko data shows that Meitu Inc. holds 940 BTC, whereas Metaplanet now boasts 1,018 BTC. Among publicly traded companies with significant BTC reserves, Metaplanet ranks 15th globally, with MicroStrategy leading the pack with an impressive 252,220 BTC.
Impact of BTC Strategy on Metaplanet’s Market Performance
According to Arkham Intelligence, Metaplanet’s Bitcoin investment strategy is proving advantageous. With Bitcoin’s price slightly over $67,000, Metaplanet enjoys an unrealized gain exceeding $6 million.
Key Performance Indicators (KPIs)
Metaplanet introduced a key performance indicator known as “BTC yield,” which evaluates the percentage change between total BTC holdings and fully diluted shares outstanding over a specified period. This KPI is essential for investors to gauge the influence of Metaplanet’s Bitcoin acquisitions on shareholder value. During October, the firm saw its BTC yield soar to 155.8%.
Market Reaction
The announcement of the latest BTC purchase had a positive impact on Metaplanet’s stock price, which surged over 7%, according to Yahoo! Finance data. This development underscores the market’s favorable reception of Metaplanet’s strategic investments.
Broader Market Trends
In related news, Maltese asset management firm Samara Group has announced plans to issue bonds worth over $32 million. A portion of the proceeds from these bonds might be allocated towards acquiring Bitcoin as a strategic reserve asset.
As of now, Bitcoin is trading at $68,780, reflecting a 1.6% increase in the last 24 hours, with a total market capitalization exceeding $1.35 trillion.
