Key Takeaways:
- Record Purchase: Metaplanet acquired 619.7 BTC worth $60M, quadrupling its previous purchase and growing its holdings to 1,762 BTC valued at $168M.
- Strategic Expansion: The firm plans to integrate Bitcoin as a core business strategy, including BTC loans, equity investments, and convertible bonds.
- Stock Surge: Despite short-term volatility, Metaplanet’s stock is up over 2,100% in 2023, reflecting its aggressive Bitcoin strategy.
Japanese investment firm Metaplanet has made its largest Bitcoin purchase to date, acquiring 619.7 BTC worth nearly $60 million as the cryptocurrency trades below $100,000.
This December 23 acquisition nearly quadruples its previous record buy of 159.7 BTC in October and brings the firm’s total Bitcoin holdings to 1,762 BTC, valued at approximately $168 million at an average purchase price of $75,600 per BTC.
*Metaplanet purchases additional 619.70 BTC* pic.twitter.com/5npflMJ3kW
— Metaplanet Inc. (@Metaplanet_JP) December 23, 2024
Often compared to U.S. Bitcoin advocate MicroStrategy, Metaplanet has earned the nickname “Asia’s MicroStrategy” for its aggressive Bitcoin acquisition strategy.
The firm now holds the 12th-largest Bitcoin reserve among public companies.
From October 1 to December 23, Metaplanet reported a remarkable BTC yield of 310%, far exceeding the 41.7% yield it achieved in the prior quarter.
Metaplanet has formalized Bitcoin as a core business initiative, expanding into BTC loans, equity investments, and convertible bonds.
In November, the company announced plans to raise $62 million through a stock acquisition program to further bolster its Bitcoin holdings.
While Metaplanet’s stock surged 5% following the announcement, it remains down 13% over the past week.
Despite this, its shares have skyrocketed over 2,100% in 2023, reaching a record high of $26 on December 17.
About The Author
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