Metaplanet becomes second largest corporate Bitcoin holder in Asia
Metaplanet has increased its holdings of Bitcoin (BTC) to over 1,000 BTC by purchasing an additional $10.4 million worth of the digital asset as part of its ongoing accumulation strategy.
An additional 56.78 BTC ( $10.4 million) was acquired by the Japanese investment firm on Monday at an average price of 10.2 million yen ($66,436) per bitcoin.
Metaplanet becomes Asia's second-largest Bitcoin holder with over 1000 BTC
Simon Gerovich, CEO of Metaplenet, wrote on X that this increased its total holdings to 1,018.17 Bitcoin ($68.8 million), "making it one of the largest corporate holders of Bitcoin in Asia."
.@Metaplanet_JP now owns more than 1000 BTC making it one of the largest corporate holders of Bitcoin in Asia https://t.co/31GSXgQ8rk
— Simon Gerovich (@gerovich) October 28, 2024
At the moment, Metaplanet is Asia's second-largest Bitcoin holder by market value. The business trails regional leader Boyaa Interactive with 1,100 BTC but surpasses Hong Kong-based Meitu Inc. with 940.9 BTC. In addition, based on data from Bitcoin Treasuries, Metaplanet ranks 19th out of the top 20 Bitcoin-holding companies worldwide due to its substantial BTC holdings position.
Metaplanet Bitcoin buying spree continues
After announcing in May that it would use bitcoin as a strategic treasury reserve asset, Metaplanet has been buying bitcoin in significant numbers in recent months.
The firm announced that by the end of September, its Bitcoin holdings had increased from 141.07 BTC at the end of June to 398.83 BTC. At this point, the holdings have surpassed 1,000 Bitcoin.
Metaplanet's Bitcoin holdings have grown quickly; the firm's largest acquisition period was from September 30 to October 28. During this period, Metaplanet acquired 619.338 BTC, solidifying its status as a significant Bitcoin owner. Through acquisitions financed by capital market activity and operating income, the firm has expanded its total Bitcoin holdings since establishing Bitcoin as a Treasury reserve asset.
Metaplanet Bitcoin yield rises
The Japanese company said that its Bitcoin yield soared to 155.8% between October 1 and October 28. Similar to MicroStrategy, the Bitcoin investing firm announced last week that it was using the "BTC Yield" as a key performance indicator to assess the growth of its BTC holdings.
According to data from blockchain analytics firm Arkham Intelligence, Metaplanet's investment in Bitcoin is performing well, with an unrealized gain of more than $6 million during the recent surge in the value of the leading cryptocurrency.
Bitcoin is currently trading at $68,586 after increasing by 1.31% over the past day, according to data from CoinMarketCap.
Metaplanet completes its 11th stock acquisition rights
Metplanet completed its 11th planned stock acquisition rights last week, raising roughly 10 billion yen ($66 million) with 13,774 individual shareholders.
After the company revealed more Bitcoin investments, its shares have done well since its initial Bitcoin purchase. When Metaplanet bought 107 BTC on October 15, its stock surged 16%.
According to Google Finance, Metaplanet's stock is now trading at 1,150 yen after rising 7.18% so far on Monday in Japan. Its stock price has increased 618.75% so far this year and 16.04% in the last month.
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