As a seasoned investor with a penchant for cryptocurrencies and a soft spot for Japanese companies, I find Metaplanet’s recent milestone of surpassing 1,000 BTC quite intriguing. Having closely followed the crypto market since its inception, I can attest that such a move is not only bold but also strategic, especially given the sustained economic pressures in Japan.
Japanese investment company Metaplanet has hit a significant achievement in its Bitcoin investments, now owning over 1,000 Bitcoins, which equates to approximately $68 million in value.
On the 28th of October, Metaplanet announced it had bought an additional 156.78 Bitcoins (BTC). This brings their total BTC holdings to 1,018.17 BTC. Their latest investment means they’re now paying approximately $61,629 or 9.4 million Japanese yen per single Bitcoin on average.
Simon Gerovich, the CEO of Metaplanet, celebrated the company’s latest Bitcoin milestone on X. Gerovich wrote:
“Metaplanet_JP now owns more than 1000 BTC, making it one of the largest corporate holders of Bitcoin in Asia.”
When a community member inquired whether the company would continue to buy Bitcoins, a representative from Metaplanet responded affirmatively, suggesting that they plan on making Bitcoin acquisitions in the future.
Asia’s second-largest Bitcoin holder
As a researcher, I’m delighted to report that with our recent purchase of Bitcoin, Metaplanet has ascended to become the second-largest Asian corporation holding Bitcoin. According to the global Bitcoin data tracker, BitcoinTreasuries, we now rank as the 19th-largest corporate Bitcoin holder worldwide. This strategic move underscores our commitment to embracing innovative financial technologies.
Although media outlets claim that Metaplanet is now the biggest corporate Bitcoin holder in Asia, data from BitcoinTreasuries indicates that they are actually second to Boyaa Interactive International, a Chinese firm that owns 1,100 BTC acquired in January, which puts them ahead of Metaplanet.
Following Metaplanet, there’s a Hong Kong-based firm known as Meitu, that possesses approximately 940.9 Bitcoin, valued around $64 million.
Bitcoin as a strategic treasury reserve asset
In May, Metaplanet decided to overhaul its financial management strategy by choosing Bitcoin as its primary treasury reserve asset. This move was made due to persistent economic strains in Japan that the company has been facing. Therefore, the company will focus exclusively on Bitcoin in its financial dealings, hence the phrase “Bitcoin-centric strategy.
After initially investing in Bitcoin, the company’s stock has done exceptionally well following further announcements about Bitcoin investments. Specifically, on October 15th, Metaplanet’s shares rose by 16% upon acquiring 107 Bitcoins.
At present, one share of the company is being traded for approximately 7.5 US dollars (equivalent to around 1,150 Japanese Yen). According to Google Finance, the stock saw a significant growth of over 500% in the year 2024.
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2024-10-28 15:02