Tokyo-listed investment firm Metaplanet Inc. has bolstered its bitcoin reserves, crossing the 1,000 BTC mark following a $10.4 million acquisition. The company confirmed the purchase of 156.78 BTC at an average price of ¥10.2 million ($66,436) per bitcoin, as part of its ongoing accumulation strategy.
The latest purchase brings Metaplanet’s total bitcoin holdings to 1,018.17 BTC, worth approximately $68.8 million. CEO Simon Gerovich announced on X that this milestone makes Metaplanet “one of the largest corporate holders of bitcoin in Asia.”
Bitcoin as a Treasury Reserve Asset
Metaplanet’s recent buying spree follows the firm’s May 2024 announcement that it would adopt bitcoin as a strategic treasury reserve asset. Since then, the company has steadily increased its holdings:
- 141.07 BTC by June 30
- 398.83 BTC by September 30
- 1,018.17 BTC as of today
The company attributed its acquisitions to capital market activities and operational income, with Gerovich emphasizing the strategy’s role in long-term asset diversification.
Capital Raising Efforts
Last week, Metaplanet raised ¥10 billion ($66 million) through its 11th planned stock acquisition rights. This offering involved 13,774 shareholders, who were able to buy shares at a discounted price. The funds from these activities have contributed to Metaplanet’s expanding bitcoin holdings.
However, the company clarified that owning shares does not provide investors any direct interest in the firm’s bitcoin reserves. Additionally, Metaplanet noted that it has not paid dividends on common shares historically.
Stock Market Performance
Following the announcement, Metaplanet’s stock rose 5.9% to ¥1,137 during afternoon trading on Monday, continuing its upward trend. Over the past month, the stock has gained 14.7%, and its year-to-date increase stands at 610%, significantly outperforming the Nikkei 225 index, which is currently up 2.07%.
With Metaplanet’s aggressive accumulation strategy and rising stock price, the firm appears well-positioned as bitcoin adoption accelerates within Asia’s corporate sector.
