This is the company’s third purchase of Bitcoin since April 23, bringing its total holdings to 141.07 Bitcoin, valued at over $9.6 million.

Shares of “Asian microstrategy” Metaplanet surged double-digit on Tuesday after the company disclosed another million-dollar Bitcoin (BTC) purchase — its third in seven weeks.

A June 11 statement from the company revealed that it purchased 23.25 Bitcoin (BTC) worth nearly $1.59 million, bringing its total holdings to 141.07 Bitcoin ($9.6 million) at an average purchase price of $65,365 (10,278,391 yen) per Bitcoin.

According to Coingecko data, Metaplanet's Bitcoin investment yield is 4.5% based on Bitcoin's current price of $68,313.

Investors seemed to like the move, with Metaplanet shares rising 10.8% to $0.59 (92 yen) on the Tokyo Stock Exchange on June 11 before retreating to $0.57 (89 yen), according to Google Finance.


Since announcing its Bitcoin investment strategy on April 9, 2024, the company’s stock price has surged nearly fivefold.

According to Bitcoin Treasury data, the company first purchased 97.85 bitcoins on April 23, and then purchased another 19.87 bitcoins on May 10. Currently, the company is the 30th largest bitcoin holder in the world.

Similar to MicroStrategy, the largest corporate Bitcoin shareholder, Metaplanet reiterated on May 13 that it will employ “the full range of capital markets tools” to bolster its Bitcoin reserves.

The company adopted the strategy as a hedge against Japan's growing debt burden and the rapidly depreciating yen.

Japan’s debt-to-GDP ratio is 261%, the highest among developed countries, Metaplanet said.

The yen has fallen nearly 35% against the dollar since January 2021, while Bitcoin has risen nearly 200% against the yen in the past 12 months.

However, this is still far less than the Bitcoin holdings of the company run by Michael Saylor, which holds 214,400 Bitcoins, or 1.02% of the approximately 21 million Bitcoins that will enter circulation.

Metaplanet is currently listed only on the Tokyo Stock Exchange, which is inaccessible to U.S. investors, but is working to change that.