Metaplanet’s Expanding Bitcoin Portfolio
The Tokyo-based investment firm, Metaplanet, is on a robust path of Bitcoin accumulation, recently adding over 450 BTC to its assets this month.
Significant Purchases in October
On October 15, Metaplanet’s CEO, Simon Gerovich, disclosed the acquisition of 106.976 BTC worth approximately 1 billion yen ($6.7 million), marking the price of each coin at about 9.3 million yen ($62,520).
This purchase is part of a larger strategy to grow Bitcoin holdings, effectively doubling their crypto assets within the month. Notable transactions include:
- October 1: Acquired 107.91 BTC for around $7 million.
- October 3: Gained additional 23.97 BTC by selling 233 BTC put options.
- October 7: Purchased 108.786 BTC for approximately $6.7 million.
- October 11: Added another 108.999 BTC at the same price point.
Total Holdings and Profit Insights
As of October 15, Metaplanet’s total Bitcoin holdings have risen to 855.5 BTC, valued at over $56.1 million. According to blockchain analytics from Arkham Intelligence, these investments currently yield a profit of around $581,000.
Market Trends and Impact on Stock Performance
In recent developments, Bitcoin’s price has seen an uptick of nearly 2%, reaching $65,654, following a recovery from recent lows below $60,000. This surge has favorably influenced Metaplanet’s stock performance:
- Stock price rose 15% to 1,107 yen as of the latest check.
- Year-to-date, the stock has appreciated by approximately 500%.
Strategic Use of Bitcoin as a Reserve Asset
In an effort to mitigate the fluctuations of the Japanese yen, Metaplanet adopted Bitcoin as a reserve asset back in May. With this strategy, it has secured the second-largest Bitcoin reserves among publicly listed Asian companies, surpassing only Hong Kong’s Meitu, which holds 941 BTC.
On a global scale, Metaplanet, alongside Meitu, mirrors the investment strategy led by Michael Saylor’s MicroStrategy, the largest corporate Bitcoin holder, commanding over $16 billion in the cryptocurrency according to Bitcoin Treasuries.