YEREVAN (CoinChapter.com) — On Dec. 23, Metaplanet, a Tokyo-based investment firm, executed its largest Bitcoin purchase to date. The company acquired 619.7 BTC, valued at approximately $60 million, with Bitcoin trading at around $96,000. This marked the firm’s biggest single acquisition since it began buying Bitcoin in May.
Metaplanet 619 Bitcoin Purchase. Source: Metaplanet JP on X
Previously, Metaplanet’s largest acquisition had been 159.7 BTC on Oct. 28, according to Bitbo data. The recent purchase nearly quadrupled its earlier record and reflects the firm’s aggressive BTC acquisition strategy.
Metaplanet Purchase History. Source: treasuries Metaplanet’s Bitcoin Holdings Grow to 1,762 BTC
Following the recent Bitcoin purchase, Metaplanet’s total Bitcoin holdings now stand at 1,762 BTC, valued at approximately $168 million. The firm’s average purchase price per Bitcoin is estimated at $75,600.
This positions Metaplanet as the 12th-largest Bitcoin holder among publicly listed companies, according to its disclosures. It trails Semler Scientific, a medical technology company, in global BTC holdings.
Between Oct. 1 and Dec. 23, Metaplanet reported a BTC yield of 310%, a sharp increase from the 41.7% yield it achieved during the previous quarter. The firm uses this metric to evaluate the profitability of its Bitcoin acquisition strategy.
Metaplanet Bitcoin Holdings Data. Source: Metaplanet Doc. Metaplanet Expands Bitcoin-Focused Strategy
Metaplanet plans to go beyond BTC acquisition as part of its long-term approach. On Dec. 18, the firm stated it would formalize Bitcoin accumulation and management as a core business activity. This includes leveraging loans, equity investments, and convertible bonds to acquire and manage additional BTC holdings.
In November, Metaplanet announced plans to raise $62 million (9.5 billion yen) through a stock acquisition program to increase its Bitcoin treasury. The initiative highlights the firm’s commitment to integrating Bitcoin into its financial strategy.
The firm also projected that it would achieve its first operating profit since 2017, attributing the turnaround to its growing Bitcoin portfolio.
Market Reaction to Metaplanet’s Bitcoin Purchase
After revealing its latest Bitcoin acquisition, Metaplanet’s stock price on the Tokyo Stock Exchange rose by 5%. However, over the past week, the stock has seen a decline of nearly 13%, based on Google Finance data.
Despite this short-term dip, Metaplanet’s shares have surged by over 2,100% in 2024, reaching a record high of 4,080 yen ($26) on Dec. 17.
