As a seasoned investor with over two decades of experience under my belt, I must admit that I’ve seen some wild market swings, but Metaplanet’s recent Bitcoin investment strategy has certainly caught my attention. The firm’s latest purchase of 107 Bitcoin, worth around $6.7 million, is a bold move, especially considering their total stash now stands at over $56.1 million.
On October 15, shares of Metaplanet surged by 15.7% following the news that a Japanese investment firm had bought approximately 107 Bitcoins, valued at around $6.7 million.
metaplanet’s recent acquisition has increased their bitcoin holdings to approximately 855.5 BTC, which is equivalent to more than $56.1 million, according to a statement made on October 15th.
As an analyst, I can share that our company allocated approximately 1 billion yen, equivalent to about $6.7 million USD, to purchase 106.976 Bitcoin in a recent transaction. This equates to approximately $62,520 per coin, representing a strategic 5.8% discount compared to the market price of Bitcoin at the time of Metaplanet’s announcement, which stood at $66,200.
3350, the ticker symbol for Metaplanet, was trading at approximately 1,105 yen ($7.38) on the Tokyo Stock Exchange before it closed for lunch at 11:30 am local time on October 15. This represented a significant increase of around 15.7% compared to its closing price the previous day, according to data from Google Finance.
Its share price is up 480% since it unveiled its Bitcoin investment strategy in early April.
As an analyst, I’ve observed that my personal investment in 855 Bitcoins through Metaplanet has resulted in a significant financial outlay equivalent to approximately $53.2 million. However, the positive news is that this investment has yielded a return of 5.4% on our Bitcoin holdings.
This month, the most recent Bitcoin purchase adds to the four previous ones, nearly quadrupling Metaplanet’s Bitcoin reserves.
The firm bought 109 BTC on Oct. 11 and 108.8 Bitcoin days earlier on Oct. 7.
This past October, I, too, found myself adding to my cryptocurrency portfolio twice – on the 1st and 3rd, specifically – with a total of 132 Bitcoins. According to Bitcoin Treasuries data, it appears that’s exactly what Metaplanet did as well.
On October 11th when Metaplanet bought Bitcoin, its price was around $60,000. But as of now, according to CoinGecko’s data, the price has climbed over 9% to approximately $65,500.
In simpler terms, the head of Metaplanet, Simon Gerovich, openly acknowledged that their approach to investing in Bitcoin stemmed from MicroStrategy and its leader, Michael Saylor. As we speak, MicroStrategy owns approximately 252,000 Bitcoins, which equates to a staggering value of $16.45 billion.
According to Gerovich’s company, they announced in May their intention to utilize a variety of financial tools from the capital market to strengthen their Bitcoin holdings, much like MicroStrategy’s approach.
In August, they obtained a $6.8 million loan from one of their investors to purchase additional Bitcoin.
According to Bitcoin Treasuries, Metaplanet ranks 23rd among publicly traded companies for its holdings of Bitcoin.
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2024-10-15 09:25