Japanese investment firm Metaplanet has strengthened its commitment to Bitcoin (BTC) by acquiring an additional 156.7 BTC worth $10 million (¥1.6 billion). This latest purchase brings their total holdings to 1,018 BTC, valued at approximately $68.8 million (¥108 billion). The move underscores Metaplanet’s confidence in Bitcoin’s long-term growth potential amid economic uncertainties.
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Key Highlights of Metaplanet’s Bitcoin Strategy
1. Investment Performance
- Q3 2024 (July–September): Achieved a 41.7% return on Bitcoin investments.
- October 1–28, 2024: Returns surged to 155.8%, driven by BTC price appreciation.
- Unrealized Gains: Over $6 million in profits due to recent BTC price rallies (per Arkham Intelligence).
2. Market Response
- Stock Price Surge: Metaplanet’s shares rose 7.18% to ¥1,150, marking a 618.75% increase year-to-date.
- Institutional Confidence: The firm’s strategy mirrors MicroStrategy’s aggressive BTC accumulation to hedge against inflation.
3. Funding the Acquisitions
- Loans & Equity: Secured a ¥1 billion loan from MMXX Ventures and raised ¥10 billion through shareholder rights offerings.
- Shareholder Participation: 13,774 investors purchased shares at a discounted price of ¥555 per share.
Timeline of Metaplanet’s Bitcoin Purchases
| Date | BTC Purchased | Approx. Value (USD) | Total Holdings |
|---|---|---|---|
| June 2024 | 23,351 BTC | $1.6 million | 203.7 BTC |
| July 2024 | 42.4 BTC | $2.4 million | 246.1 BTC |
| August 2024 | 57,273 BTC | $3.4 million | 303.4 BTC |
| October 2024 | 156.7 BTC | $10 million | 1,018 BTC |
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Why Bitcoin? CEO Simon Gerovich Explains
Metaplanet adopted Bitcoin as a strategic reserve asset to counteract:
– High Debt Burden
– Economic Volatility
– Currency Depreciation Risks
Gerovich cited MicroStrategy’s success as inspiration, emphasizing BTC’s scarcity and decentralized nature.
FAQs: Metaplanet’s Bitcoin Holdings
Q1: How does Metaplanet fund its Bitcoin purchases?
A: Through loans (e.g., ¥1 billion from MMXX Ventures) and equity offerings (¥10 billion raised in October 2024).
Q2: What’s the current value of Metaplanet’s BTC stash?
A: ~$68.8 million, based on a holding of 1,018 BTC.
Q3: How has Bitcoin impacted Metaplanet’s stock performance?
A: Shares skyrocketed 618.75% YTD, reflecting investor optimism.
Q4: Is Metaplanet the only Asian firm investing heavily in BTC?
A: While rare, other firms like Nexon (Korea) have allocated treasury assets to Bitcoin.
Q5: What’s Metaplanet’s long-term BTC strategy?
A: To hold BTC as a primary treasury asset, leveraging its appreciation potential.
Q6: How does Bitcoin compare to traditional investments for Metaplanet?
A: BTC’s 155.8% returns in October 2024 far outperformed traditional markets.
The Bigger Picture: Institutional Adoption
Metaplanet’s actions signal a broader institutional shift toward Bitcoin, particularly in Asia. As macroeconomic uncertainties persist, BTC’s role as a non-correlated asset gains traction among corporations.