Metaplanet’s Remarkable Bitcoin Acquisition Journey
The Japanese investment firm Metaplanet recently achieved a significant milestone by purchasing 107.913 Bitcoins, amounting to approximately 1 billion yen (around $6.9 million), according to their announcement on October 1.
Recent Acquisition Overview
This latest acquisition is Metaplanet’s eleventh since it started its Bitcoin investment on April 23. As per Bitcoin Treasuries, their total Bitcoin holdings have now reached 506.745 BTC, valued at about $32.2 million.
In total, the firm has invested around 4.75 billion yen (approximately $31.9 million) into Bitcoin, with an average purchase price of around 9.37 million yen (or roughly $64,931) per Bitcoin.
Future Plans and Goals
Simon Gerovich, CEO of Metaplanet, hinted at more acquisitions, stating that the firm aims to build a total of 1,000 BTC in their portfolio. He recently urged stakeholders to help elevate the company among the top corporate holders of Bitcoin, saying:
“As we start the second week of rights warrant exercise, please help us rise up on the list of top corporate holders of Bitcoin. Next target is to own more than 1000 Bitcoin.”
Metaplanet’s Position in the Market
Currently, Metaplanet stands as the second-largest institutional Bitcoin holder in Asia, just behind Hong Kong’s Meitu Inc., which holds 940.9 BTC according to Bitcoin Treasuries. Meanwhile, MicroStrategy, under the leadership of Michael Saylor, remains the largest corporate Bitcoin holder worldwide with 252,220 BTC.
Stock Performance Compared to Traditional Assets
Metaplanet’s strategy of investing in Bitcoin has proven to be remarkably successful, allowing the company’s stocks to outperform various traditional financial assets, including the US Dollar, Gold, and Japan’s Nikkei share index.
As of September 19, Gerovich indicated that the company’s stock had risen by 443% since adopting a Bitcoin-focused investment strategy, while notable indices and currencies experienced declines:
- Nikkei Index: -7.1%
- US Dollar: -6.4%
- Bitcoin: -10.1%
- Gold: +17%
Strategic Shift to Bitcoin-Only Treasury
Market analysts attribute this impressive performance to Metaplanet’s Bitcoin-only treasury strategy, which was put in place in May to mitigate risks associated with the volatile Japanese yen. Since adopting this strategy, Metaplanet has made consistent Bitcoin purchases, positioning itself among the top 25 institutional Bitcoin holders globally.
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