Tokyo-listed investment firm Metaplanet has expanded its Bitcoin holdings to more than 1,000 BTC, a move reflecting its aggressive acquisition strategy.
On October 28, Metaplanet announced via an X post that it had purchased 156.7 BTC for approximately 1.6 billion yen ($10.4 million), raising its total holdings to 1,018 BTC, valued at around $67.8 million.
The firm reported a yield of 41.7% from July 1 to September 30, which skyrocketed to 155.8% from October 1 to October 28. Following this announcement, Metaplanet’s shares surged by 7.46% to 1,153 yen, marking a 13.4% increase over the past month and an impressive 578.2% rise year-to-date.
This latest acquisition follows Metaplanet’s decision to adopt “BTC Yield” as a key performance indicator to measure the effectiveness of its Bitcoin strategy, akin to practices established by MicroStrategy. This metric evaluates the growth of Bitcoin holdings in relation to the company’s fully diluted shares, aiming to enhance transparency in its investment approach.
Earlier this year, Metaplanet embraced Bitcoin as a reserve asset and has intensified its crypto investments amid Japan’s economic challenges, particularly the depreciation of the yen. This strategy aligns with the Bank of Japan’s recent decision to raise its benchmark interest rate to 0.25% in an attempt to stabilize the currency.
Related Topics:
