Metaplanet has cemented its position as the largest corporate holder of Bitcoin in Asia, surpassing 1,000 BTC in its portfolio following a recent acquisition. The company announced today that it purchased an additional 156 BTC for approximately 1.6 billion Japanese yen ($10.4 million). In response to this news, Metaplanet’s stock surged by 6.06%, reaching 1,138 JPY during early trading hours in Asia.
Impressive October Performance
In October alone, Metaplanet has achieved a remarkable Bitcoin yield of 116% through its ongoing purchases. This uptick follows the company’s recent Series of Stock Acquisition Rights, which raised a total of 10 billion yen to support its Bitcoin acquisition strategy.
Since entering the Bitcoin market in May, Metaplanet has been steadily accumulating the cryptocurrency. In August, the firm secured a 1 billion yen loan from MMXX Ventures Limited to expedite its investment in Bitcoin. The latest purchase brings Metaplanet’s total Bitcoin holdings to approximately 1,018 BTC.
Leadership Remarks
CEO Simon Gerovich remarked on this milestone, stating, “Metaplanet now owns more than 1,000 BTC, making it one of the largest corporate holders of Bitcoin in Asia.” The company recently introduced a new performance metric called ‘BTC Yield’ to align with industry best practices. This indicator measures the performance of its Bitcoin holdings, reflecting the impressive yield achieved this month.
Previously, Metaplanet reported a yield of 41.7% on its Bitcoin investments from July 1 to September 30. The current surge can be attributed to the substantial growth in its Bitcoin assets, which have more than doubled in the last quarter.
Gerovich emphasized that this new KPI, inspired by MicroStrategy’s approach, will offer investors clearer insights into how Bitcoin acquisitions can enhance shareholder value. “This KPI will help investors better understand how Metaplanet’s strategy for acquiring Bitcoin using equity capital benefits shareholders,” he added.
Broader Corporate Trends
The trend of corporate adoption of Bitcoin has been gaining momentum, particularly following the lead of MicroStrategy. Other major firms, including Tesla, continue to hold Bitcoin as part of their balance sheets. Recently, tech giant Microsoft has sought shareholder approval to add Bitcoin to its assets, a move that could encourage other corporations to follow suit, potentially igniting a ripple effect across the market.
Related topics:
Denmark Considers Taxing Unrealized Crypto Gains
SEC vs. Ripple Lawsuit: Chris Larsen Takes Action Before Form C Deadline
BTC Price Outlook: Impact of Rising US Treasury Yields and Upcoming Elections
