Japanese publicly traded company Metaplanet has completed another round of Bitcoin purchases, acquiring about 156 BTC as part of its ongoing Bitcoin treasury plan. As a result, its total BTC holdings have surpassed 1,000, making it one of the largest BTC corporate holders in Asia.
Notably, Metaplanet made the recent purchase amid a market rally that saw the price of BTC jump over $68k. According to on-chain data, the flagship cryptocurrency increased by 2.12% over the last day and has recorded an impressive 4.03% increase in the last 30 days.
Metaplanet Spends $10 Million on Bitcoin
In a post on X (formerly Twitter) earlier today, the investment firm disclosed that it spent a total of 1.6 billion yen, worth $10.4 million, to acquire exactly 156.783 BTC. Moreover, each Bitcoin was bought at an average price of 10,205,188 yen, worth $66,629.
Source: Metaplanet/X
Following the purchase, Metaplanet now holds 1,018.17 BTC, purchased at an average price of 9,450,746 yen, or $61,677. Compared to the current price of BTC, Metaplanet has recorded notable gains from its strategic investments.
Often referred to as the “Microstrategy of Japan,” Metaplanet has successfully positioned itself as a leader in Bitcoin adoption in the country. According to Google Finance data, the announcement triggered an almost immediate surge of 8% in the company’s stock (TYO: 3350) price. However, at the time of writing, it traded at ¥1,150, representing a 7.18% increase in the last 24 hours.
Source: Google Finance Metaplanet Bitcoin Acquisition History
Meanwhile, Metaplanet reported that since its strategic shift to Bitcoin as a treasury reserve asset, the company has increased its Bitcoin holding through funds raised by capital market activities and operational income.
The buying spree started in April this year when the company spent 1 billion yen to buy 97.850 BTC. Since then the company has made at least one purchase in the months that followed. In October, Metaplent made at least five different Bitcoin buys. The first one on Oct 1, added 107 BTC for 1 billion yen ($6.6 million).
On Oct 7, the firm bought another 108 BTC, valued at approximately $6.7 million. Four days later, on October 11, the company added 108 BTC, spending $6.5 million, and then another 106 BTC on Oct 14.
Meanwhile, Metaplanet has adopted the “BTC Yield,” a metric that provides a transparent way to assess the direct impact of its Bitcoin purchases on shareholder value. It is a key performance indicator (KPI) that measures the change in the ratio of Bitcoin holding to Fully Diluted Shares Outstanding over a period.
The post Metaplanet Bitcoin Holding Crosses 1k Following 156 BTC Purchase appeared first on Coinfomania.
