Metaplanet Surpasses 1,000 BTC in Treasury Holdings, Fueled by $10.4M Purchase

Japanese investment powerhouse Metaplanet Inc. has officially crossed a major milestone in its Bitcoin acquisition strategy, now holding over 1,000 BTC. On Monday, the Tokyo-listed firm announced a fresh purchase of 156.78 BTC, totaling $10.4 million, which brought its total Bitcoin holdings to 1,018.17 BTC, or approximately $68.8 million.

Metaplanet: One of Asia’s largest corporate holders of Bitcoin

According to Metaplanet CEO Simon Gerovich, the acquisition further strengthens the company’s stance as one of Asia’s largest corporate holders of Bitcoin.

Metaplanet’s Bitcoin-buying spree aligns with its strategic decision, made in May, to adopt Bitcoin as a treasury reserve asset. Since the end of June, the firm’s holdings have surged from 141.07 BTC to 398.83 BTC by late September, only to surpass the 1,000 BTC mark with its latest purchase.

Gerovich highlighted on X that the aggressive accumulation is part of an “ongoing strategy,” demonstrating the company’s dedication to Bitcoin as a core asset in its treasury.

Funding Acquisitions Through Capital Markets

Metaplanet’s ability to fund this ambitious acquisition spree is attributed to active capital market strategies. Recently, the company completed its 11th round of stock acquisition rights, raising $66 million from over 13,000 participating shareholders. This successful fundraising round has fueled further Bitcoin purchases, a strategy the firm has employed to consistently bolster its reserves over recent months.

Despite the capital market activities funding its Bitcoin buys, Metaplanet has clarified that shareholders do not hold a direct interest in the Bitcoin it accumulates. In a recent statement, the firm noted, “Owning our common shares does not equate to owning any interest in the Bitcoin the firm holds.” This means that while the company benefits from potential Bitcoin appreciation, shareholders’ gains remain tied strictly to Metaplanet’s stock performance.

Stock Performance

Metaplanet’s shares have shown growth, with a 5.9% increase as of Monday afternoon in Japan, trading at 1,137 yen. The stock’s year-to-date performance has soared by an impressive 610%, largely reflecting investor enthusiasm for the firm’s Bitcoin-focused strategy. The Nikkei 225 index, for comparison, was up 2.07% in the same session.

As one of the first Japanese corporations to embrace Bitcoin at this scale, Metaplanet is setting a unique precedent in the region’s corporate investment landscape.