In a significant move, Tokyo-listed Metaplanet has boosted its Bitcoin holdings to over 1,000 BTC, following a recent acquisition that underscores its ongoing investment strategy in the cryptocurrency market.
The Japan-based early-stage investment firm revealed on October 28 that it purchased 156.7 BTC for approximately 1.6 billion yen (around $10.4 million). This acquisition increases Metaplanet’s total Bitcoin holdings to 1,018 BTC, valued at roughly $67.8 million.
Metaplanet reported a remarkable yield of 41.7% from July 1 to September 30, which surged to an impressive 155.8% from October 1 to October 28. In response to this latest news, the company’s shares rose by 7.46% to 1,153 yen, reflecting a 13.4% increase over the past month and a staggering 578.2% rise year-to-date.
This latest acquisition aligns with Metaplanet’s strategic shift towards Bitcoin, having recently adopted “BTC Yield” as a key performance metric. This new indicator, inspired by MicroStrategy’s approach, aims to measure the growth of Bitcoin holdings in relation to the company’s fully diluted shares outstanding, thereby enhancing transparency in its acquisition strategy.
Having embraced Bitcoin as a reserve asset earlier this year, Metaplanet’s increased investments come in the wake of ongoing economic challenges in Japan, including the depreciation of the yen. The firm’s diversification into Bitcoin follows the Bank of Japan’s recent decision to raise its benchmark interest rate to 0.25% in an effort to stabilize the currency.
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