Metaplanet becomes 19th-largest Bitcoin holding firm with over 1,000 BTC Metaplanet becomes 19th-largest Bitcoin holding firm with over 1,000 BTC
CEO Simon Gerovich hints at further Bitcoin acquisitions to bolster Metaplanet's dominant market position.
2 min read
Updated: Oct. 28, 2024 at 1:05 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Japan-based Metaplanet recently achieved a significant benchmark by pushing its Bitcoin holdings over 1,000 BTC.
On Oct. 28, the company stated that it acquired 156.78 BTC at an investment of $10.4 million, raising its total Bitcoin stash to 1,018.17 BTC—currently valued at approximately $68.8 million. This acquisition brought Metaplanet’s average purchase price to around 9,450,746 yen or $61,629 per Bitcoin.
The firm’s Bitcoin accumulation aligns with its May decision to make Bitcoin a strategic reserve asset. Since then, Metaplanet has increased its Bitcoin assets at a rapid pace, with its largest acquisition period recorded from Sept. 30 to Oct. 28. During this interval, Metaplanet purchased 619.338 BTC, securing its position as a major Bitcoin holder.
Data from blockchain analytics company Arkham Intelligence reports that Metaplanet’s Bitcoin investment is yielding strong results, with an unrealized gain exceeding $6 million amid the top crypto’s recent price uptick.
According to CryptoSlate’s data, Bitcoin has appreciated by about 2% in the past day, trading at $68,377.
Bitcoin yield
Metaplanet revealed that its BTC Yield has soared to 155.8% between Oct. 1 and 28.
Last week, the Bitcoin investing company revealed that it was adopting the “BTC Yield” as a key performance indicator to evaluate the growth of its BTC holdings, mirroring a similar approach by MicroStrategy.
This metric tracks the percentage change in the ratio between the firm’s Bitcoin holdings and its fully diluted shares. The data is intended to give investors greater insight into how Metaplanet’s Bitcoin acquisitions have impacted shareholder value.
Alongside this Bitcoin-focused strategy, Metaplanet’s stock price has seen an upward trend, rising over 7% during trading hours to reach 1,150 yen (approximately $7.50), according to Google Finance.
Asia’s largest Bitcoin holder?
Metaplanet currently ranks as the second-largest publicly traded Bitcoin holder in Asia. The company surpasses Hong Kong-based Meitu Inc., which holds 940.9 BTC, but trails Boyaa Interactive, the regional leader, with 1,100 BTC.
Nevertheless, Metaplanet’s substantial BTC holdings position it among the top 20 Bitcoin-holding firms globally, ranking 19th, according to Bitcoin Treasuries data.
Commenting on this milestone, Metaplanet CEO Simon Gerovich stated:
“[Metaplanet] now owns more than 1000 BTC making it one of the largest corporate holders of Bitcoin in Asia.”
Gerovich also hinted at the company’s intent to continue accumulating Bitcoin in response to a crypto community member’s question.
UPDATE: Updated headline and content to reflect that Metaplanet is not Asia’s largest Bitcoin holding company.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Metaplanet
Metaplanet Inc., a publicly traded company listed on the Tokyo Stock Exchange (3350), is a Japanese company that has undergone a strategic transformation to focus on Bitcoin.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
Arkham Intelligence
Arkham Intelligence is a platform that provides information on the real-world entities behind addresses on the blockchain.
