Metaplanet’s Bitcoin Holdings Surge Past 1000 In Latest Purchase, Stock Shoots 6%

Asia’s MicroStrategy Metaplanet has now become the biggest corporate holder of BTC in Asia while taking its Bitcoin holdings to more than 1,000 in the recent purchase. Earlier today, the company announced the purchase of 156 additional BTC for an investment value of $1.6 billion Japanese Yen. Soon after the news, the stock price surged 6.06% moving to 1138 JPY, in Aisa’s early trading hours on Monday.

Metaplanet Bitcoin Holdings on the Rise

Ever since its first entry into the Bitcoin market in May, Metaplanet has been consistently buying the asset at regular intervals. Back in August, Metaplanet secured a 1 billion yen loan from MMXX Ventures Limited to accelerate its Bitcoin buying process. Since then, it has conducted 11 Series of Stock Acquisition Rights with the latest one happening last week wherein it raised a total of 10 billion Yen for buying BTC.

Speaking on the development, company CEO Simon Gerovich said: “Metaplanet now owns more than 1000 BTC making it one of the largest corporate holders of Bitcoin in Asia”.

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

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

Two days ago, the company announced its new performance indicator dubbed the ‘BTC Yield’, in an attempt to follow the best industry practices. The Japanese firm also announced that its ongoing BTC purchases have led to a total of 116% yield this month.

This increase marks a significant rise from the 41.7% yield Metaplanet achieved on its Bitcoin holdings from July 1 to September 30. The company credits this sharp growth to a substantial expansion of its Bitcoin assets, which more than doubled over the previous quarter. In October alone, Metaplanet acquired over 600 BTC, raising its total holdings to 1018.17 BTC.

Gerovich said that the latest approach to Bitcoin yield from Metaplanet will give investors greater insights into how BTC acquisition can boost shareholders’ value. He added:

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

Corporate Adoption of BTC

Steered by MicroStrategy, the corporate adoption of BTC has been on the rise over the past few years. Apart from Metaplanet, other global firms like Tesla have also continued to hold Bitcoins on their balance sheet.

Also, the latest development is that tech giant Microsoft is seeking a shareholder vote to add Bitcoins to its balance sheet. Well, if the shareholders approve, it might create a domino effect in the market with other top corporates joining the BTC bandwagon.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.