Metaplanet Surpasses 1,000 BTC in Holdings After Latest October Purchase

Japan-based tech firm Metaplanet reported that its Bitcoin reserves have exceeded the 1,000 BTC mark following its most recent acquisition today.

The Tokyo-listed company revealed that it acquired an additional 156.78 BTC for approximately $10.4 million, raising its total Bitcoin holdings to 1,018 BTC, valued at around $68.8 million.

This purchase is part of a series of acquisitions throughout October, making Metaplanet one of Asia’s largest publicly traded corporate Bitcoin holders and among the top 20 worldwide.

.@Metaplanet_JP now owns more than 1000 BTC making it one of the largest corporate holders of Bitcoin in Asia https://t.co/31GSXgQ8rk
— Simon Gerovich (@gerovich) October 28, 2024

Metaplanet’s October buying spree began on October 1, when it purchased 107 BTC for roughly $6.6 million, paying an average price of $61,932 per Bitcoin.

This was followed by acquisitions of 108 BTC each on October 7 and October 11 and another 106 BTC on October 14, totaling over 600 BTC acquired during the month. As of the latest acquisition, the company’s average purchase price is approximately 9,450,746 yen, or $61,629 per Bitcoin.

Following the latest announcement, Metaplanet’s stock saw an 8% increase during early Asian trading hours, with shares reaching 1,150 yen ($7.50), according to Google Finance. The price of Bitcoin also saw a slight uptick, trading at $68,377.

The company’s decision to allocate part of its treasury to Bitcoin began in May, aligning with a corporate strategy to make Bitcoin a strategic reserve asset. CEO Simon Gerovich stated, “Metaplanet now owns more than 1,000 BTC, making it one of the largest corporate holders of Bitcoin in Asia.”

He also suggested that the company plans to continue its acquisitions in response to investor interest.

To further communicate the impact of its Bitcoin strategy, Metaplanet introduced a metric known as BTC Yield earlier this month.

This metric tracks the ratio between the company’s Bitcoin holdings and fully diluted shares, offering a transparent view of how Bitcoin purchases may affect shareholder value. Metaplanet’s BTC Yield in October increased by 155.8%.

Surpassing Hong Kong’s Meitu Inc., which holds 940.9 BTC, Metaplanet now stands as the largest corporate Bitcoin holder in Asia and ranks 19th globally, according to Bitcoin Treasuries data.

Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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