Japanese investment firm Metaplanet has solidified its position as a major Bitcoin accumulator with its largest-ever purchase of the cryptocurrency. On December 23, the Tokyo-based company revealed the acquisition of nearly 620 Bitcoin, valued at just under $60 million, as Bitcoin traded at approximately $96,000. This latest purchase dwarfs the firm’s previous record of 159.7 BTC in October and brings its total holdings to 1,762 BTC, worth around $168 million.
Often referred to as “Asia’s MicroStrategy” due to its aggressive Bitcoin-buying strategy, Metaplanet now ranks 12th among public companies in Bitcoin holdings, trailing behind medical technology firm Semler Scientific. With an average acquisition price of $75,600 per Bitcoin, the firm’s bold strategy reflects its commitment to integrating Bitcoin into its financial operations.
From Bitcoin Accumulation to Profitable Operations
Metaplanet’s Bitcoin acquisition strategy is paying dividends for its shareholders. The firm reported a staggering 310% BTC Yield between October and December, a dramatic increase from the 41.7% yield in the preceding quarter. BTC Yield is Metaplanet’s proprietary metric for evaluating the performance of its Bitcoin strategy, which aims to enhance shareholder value.
In a significant shift, the company announced plans to establish Bitcoin accumulation and management as a core business line. This new focus includes exploring financial instruments such as loans, equity, and convertible bonds to further bolster its Bitcoin holdings.
After years of losses, Metaplanet is projecting its first operating profit since 2017, signaling that its Bitcoin-focused strategy could be a sustainable path forward. The firm has also raised $62 million (9.5 billion Japanese yen) through a stock acquisition program to expand its Bitcoin reserves, reinforcing its long-term confidence in the cryptocurrency’s potential.
Market Reactions
News of the $60 million Bitcoin purchase caused a 5% surge in Metaplanet’s stock on the Tokyo Stock Exchange. Despite a slight decline in stock value over the past week, shares in the company have skyrocketed by over 2,100% this year, hitting an all-time high in mid-December.
As Metaplanet integrates Bitcoin into its treasury strategy and positions itself as a leader in Bitcoin accumulation, its moves are being closely watched by both crypto enthusiasts and traditional investors.
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