TLDR
- With its latest acquisition of 156 BTC, Metaplanet has elevated its Bitcoin holdings to exceed 1,000 BTC in total.
- Following the acquisition news, the company's shares saw a hike of 6.06%.
- Metaplanet witnessed a remarkable 116% yield on its Bitcoin investments during October 2023.
- Through issuing Stock Acquisition Rights, the company secured 10 billion Yen.
- Microsoft explores the possibility of Bitcoin investment, pending the green light from its shareholders.
As the premier Bitcoin corporate investor in Asia, Metaplanet has expanded its crypto assets beyond the 1,000 Bitcoin mark, with the recent 156 Bitcoin purchase totaling 1.6 billion Japanese Yen.
Upon unveiling the new acquisition, the company’s stock surged by 6.06% to 1138 JPY in early Asian trading hours on Monday.
This new purchase propels a Japanese enterprise's Bitcoin cache to 1,018.17 BTC, illustrating significant growth since it took its initial steps into the cryptocurrency realm in May.
Financed through its recent Stock Acquisition Rights, the company amassed 10 billion Yen.
CEO Simon Gerovich shared the achievement, noting,
“With over 1000 BTC under our belt, Metaplanet stands as one of Asia's major corporate holders in the Bitcoin realm.”
An assertive acquisition approach has been bolstered by external funding, including a 1 billion yen loan from MMXX Ventures Limited in August, enabling Metaplanet to preserve a regular acquisition trajectory, marked by the completion of 11 Series of Stock Acquisition Rights since starting its Bitcoin endeavor.
October came through as a particularly lively period for Metaplanet's Bitcoin accrual, where it amassed over 600 BTC during this month alone.
This swift growth yielded a 116% return in October, significantly outperforming the 41.7% return from July through September.
*Metaplanet purchases additional 156.78 $BTC * pic.twitter.com/4zl2LhXvO6
— Metaplanet Inc. (@Metaplanet_JP) October 28, 2024
Metaplanet has fine-tuned its performance communication with investors by introducing a new metric identified as ‘BTC Yield.’ This measure is in line with industry norms set by MicroStrategy, another heavyweight in the business Bitcoin sphere.
Gerovich elaborated on the necessity of the novel performance standard:
“This Key Performance Indicator, a trail initiated by MicroStrategy, aids investors in grasping how Metaplanet's method of Bitcoin acquisition via equity capital benefits shareholders.”
The company’s Bitcoin The strategy seems to resonate with the investor community, as seen in the immediate rise in share value following the announcement of its latest Bitcoin purchase. The 6.06% boost signals market faith in Metaplanet’s focus on cryptocurrency.
Metaplanet’s broadened Bitcoin reserve underscores a larger movement of corporate Bitcoin integration. Despite MicroStrategy championing this on a global scale, several big names like Tesla also keep Bitcoin as part of their financial statements.
This tendency may gather further pace, given Microsoft’s development toward getting shareholder backing for likely Bitcoin investments. Such actions from a significant tech figure could inspire other businesses to contemplate this strategic shift.
Metaplanet dived into Bitcoin allocations starting in May and has consistently kept up with its purchasing philosophy ever since. The recent credit from MMXX Ventures Limited has accelerated this push, enabling frequent Bitcoin acquisitions.
A recent Stock Acquisition Rights completion last week raised 10 billion Yen, all dedicated to purchasing Bitcoin, showcasing a steadfast commitment to its cryptocurrency path.
Metaplanet's performance over October stands out appreciably, seeing the firm more than doubling its Bitcoin holdings in contrast to the previous quarter, thereby contributing to a marked increase in BTC yield.
Routine Bitcoin purchases have entrenched the company as a notable entity in corporate cryptocurrency participation within Asia, adopting a strategy akin to MicroStrategy’s in Western territories.
Presently, Metaplanet commands 1,018.17 BTC, rendering it Asia's largest corporate holder of Bitcoin.
