Metaplanet’s Total Bitcoin Holdings Exceed 1,000 BTC Following Latest Purchase

Japan-based investment firm Metaplanet has now accumulated over 1,000 Bitcoin (BTC) with its latest acquisition, establishing itself as one of Asia’s largest corporate holders of the digital asset.

Metaplanet’s Bitcoin Holdings Top 1,000 BTC

In an announcement made on October 28, Tokyo-listed Metaplanet stated it had purchased an additional 156.78 BTC at an average price of $66,436 per BTC. The latest purchase has propelled Metaplanet’s total BTC holdings to 1,018 BTC, acquired at an average price of $61,629.

Commenting on the milestone, Metaplanet CEO Simon Gerovich noted, “This latest BTC purchase makes Metaplanet one of the largest corporate holders of Bitcoin in Asia.” The company further stated:

Since adopting bitcoin as a treasury reserve asset, the company has strategically increased its total bitcoin holdings through acquisitions funded by capital market activities and operational income.

Metaplanet first declared its decision to adopt Bitcoin as a strategic reserve asset in May 2024. Adhering to a “Bitcoin-first, Bitcoin-only” approach, Metaplanet further expanded its BTC holdings with a $2 million purchase in September.

Over the summer, Metaplanet embarked on a Bitcoin acquisition spree, purchasing more than 50% – approximately 620 BTC – of its current holdings within a single month, from September 30 to October 28.

Notably, this acquisition has now placed Metaplanet ahead of another prominent Asian firm, Meitu Inc., in terms of total BTC reserves. According to CoinGecko data, Meitu Inc. currently holds 940 BTC compared to Metaplanet’s 1,018 BTC.

Among publicly traded companies with significant BTC reserves, Metaplanet now ranks 15th, with the list led by US-based business intelligence firm MicroStrategy, which holds an impressive 252,220 BTC, representing close to 1.2% of the total Bitcoin supply.

BTC Strategy Reflecting In Metaplanet’s Share Price

According to Arkham Intelligence, Metaplanet’s BTC investment strategy appears to be yielding strong results. At the current Bitcoin price of slightly above $67,000, Metaplanet has an unrealized gain of over $6 million.

In its announcement, Metaplanet highlighted a key performance indicator (KPI) called “BTC yield,” which reflects the percentage change in the ratio of total BTC holdings to fully diluted shares outstanding over a specific period. 

In essence, the KPI helps investors assess the impact of Metaplanet’s Bitcoin acquisitions on shareholder value. Between October 1 and October 28, Metaplanet’s BTC yield surged to 155.8%.

Following 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 asset management firm Samara Group recently announced plans to issue bonds worth over $32 million, with a portion of the proceeds potentially allocated toward BTC purchases as a strategic reserve asset.

At press time, BTC trades at $68,780, up 1.6% in the past 24 hours, with a total market cap of slightly more than $1.35 trillion.

Featured image from Unsplash, Chart from Tradingview.com