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Japan-based investment firm Metaplanet has now raised over 1,000 Bitcoin (BTC) with its latest offering. adoptionestablishing itself as one of Asia’s largest business owners of digital assets.
Metaplanet’s Bitcoin Holdings Top 1,000 BTC
In an announcement made on October 28, Tokyo-listed Metaplanet said it bought an additional 156.78 BTC at an estimated price of $66,436 per BTC. The latest purchase pushed Metaplanet’s total BTC holdings to 1,018 BTC, achieved at an average price of $61,629.
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Commenting on the milestone, Metaplanet CEO Simon Gerovich commented, “This latest BTC purchase makes Metaplanet one of the largest Bitcoin business owners in Asia.” The company also said:
Since adopting bitcoin as a treasury stock, the company has strategically grown its bitcoin holdings through purchases funded by capital markets activities and operating income.
Metaplanet first announced that it was decision to adopt Bitcoin as a strategic asset in May 2024. Consistent with the “Bitcoin-first, Bitcoin-only” approach, Metaplanet continues. extended its storage of BTC with the purchase of 2 million dollars in September.
Over the summer, Metaplanet started a Bitcoin acquisition campaign, buying more than 50% – about 620 BTC – of the current supply within one month, from September 30 to October 28.
Notably, this acquisition has now put Metaplanet ahead of another prominent Asian company, Meitu Inc., in terms of BTC reserves. According to CoinGecko dataMeitu Inc. it currently holds 940 BTC compared to Metaplanet’s 1,018 BTC.
Among publicly traded companies with significant BTC reserves, Metaplanet is now ranked 15th, with the list headed by US-based business intelligence firm MicroStrategy, which holds a staggering 252,220 BTC, representing about 1.2% of the total Bitcoin total.
Metaplanet Share Price BTC Strategy
According to at Arkham Intelligence, Metaplanet’s BTC investment strategy seems to be giving solid results. At a current Bitcoin price of just over $67,000, Metaplanet has an unrealized profit of over $6 million.
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In its announcement, Metaplanet highlighted a key performance indicator (KPI) called “BTC yield,” which shows the percentage change in the ratio of total BTC shares to fully diluted shares outstanding over a period of time.
Essentially, KPI helps investors assess the impact of Metaplanet’s Bitcoin acquisition on shareholder value. Between October 1 and October 28, Metaplanet’s BTC yield rose to 155.8%.
After the news of today’s BTC purchase, Metaplanet’s stock price jumped more than 7%, according to data from Yahoo! Finance.
In related news, Maltese property management company Samara Group recently announced plans to issue bonds worth more than $32 million, with a portion of the proceeds likely to be allocated to the purchase of BTC as a strategic reserve asset.
At press time, BTC is trading at $68,780, up 1.6% in the last 24 hours, with a market cap of just over $1.35 trillion.
Featured image from Unsplash, Chart from Tradingview.com
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