Metaplanet Exceeds 1,000 Bitcoin Holdings After Latest Purchase

TLDR

• Metaplanet purchased 156 additional BTC, bringing total holdings above 1,000 BTC
• Company stock rose 6.06% following the announcement
• Metaplanet achieved 116% Bitcoin yield in October 2023
• Company raised 10 billion Yen through Stock Acquisition Rights
• Microsoft considering Bitcoin investment, subject to shareholder approval

Metaplanet, Asia’s largest corporate Bitcoin holder, has expanded its cryptocurrency holdings beyond 1,000 BTC following a new purchase of 156 Bitcoin worth 1.6 billion Japanese Yen.

The company’s stock responded positively to the announcement, climbing 6.06% to 1138 JPY during early Asian trading hours on Monday.

The Japanese firm’s latest acquisition brings its total Bitcoin holdings to 1,018.17 BTC, marking a major expansion since its initial entry into the cryptocurrency market in May.

The purchase was funded through the company’s recent Stock Acquisition Rights offering, which raised 10 billion Yen.

CEO Simon Gerovich confirmed the milestone, stating,

“Metaplanet now owns more than 1000 BTC making it one of the largest corporate holders of Bitcoin in Asia.”

The company’s aggressive acquisition strategy has been supported by external funding, including a 1 billion yen loan secured from MMXX Ventures Limited in August. This financing has enabled Metaplanet to maintain a steady buying pattern, with the company completing 11 Series of Stock Acquisition Rights since its initial Bitcoin investment.

October proved particularly active for Metaplanet’s Bitcoin accumulation, with the company acquiring over 600 BTC in this month alone.

This rapid expansion contributed to a 116% Bitcoin yield for October, substantially higher than the 41.7% yield recorded between July 1 and September 30.

*Metaplanet purchases additional 156.78 $BTC* pic.twitter.com/4zl2LhXvO6

— Metaplanet Inc. (@Metaplanet_JP) October 28, 2024

To better communicate its performance to investors, Metaplanet recently introduced a new metric called ‘BTC Yield.’ This indicator follows industry practices established by MicroStrategy, another major corporate Bitcoin holder.

Gerovich explained the reasoning behind the new performance metric:

“This KPI, pioneered by MicroStrategy, will help investors better understand how Metaplanet’s approach to acquiring Bitcoin using equity capital is accretive to shareholders.”

The company’s Bitcoin strategy appears to be resonating with investors, as evidenced by the immediate stock price increase following the announcement of its latest purchase. The 6.06% rise suggests market confidence in Metaplanet’s cryptocurrency-focused approach.

Metaplanet’s expansion of its Bitcoin holdings reflects a broader trend of corporate Bitcoin adoption. While MicroStrategy leads this movement globally, other major companies like Tesla maintain Bitcoin positions on their balance sheets.

The trend may soon see additional momentum, as Microsoft has announced plans to seek shareholder approval for potential Bitcoin investments. This move by a major tech company could influence other corporations to consider similar strategies.

Metaplanet’s journey into Bitcoin began in May, and the company has maintained a consistent purchasing strategy since then. The recent loan from MMXX Ventures Limited has helped accelerate this process, enabling more frequent Bitcoin acquisitions.

The company’s latest Stock Acquisition Rights series, completed last week, raised 10 billion Yen specifically for Bitcoin purchases, demonstrating continued commitment to its cryptocurrency strategy.

Metaplanet’s October performance stands out particularly, with the company more than doubling its Bitcoin holdings compared to the previous quarter. This rapid expansion contributed to the notable increase in BTC yield.

The company’s regular Bitcoin purchases have established it as a key player in corporate cryptocurrency adoption within Asia, following a model similar to MicroStrategy’s approach in the Western markets.

Currently, Metaplanet holds 1,018.17 BTC, making it the largest corporate Bitcoin holder in Asia.