Key Points
- Japanese investment firm Metaplanet has increased its Bitcoin holdings by purchasing an additional 68.59 BTC for about $6.6 million.
- The firm’s total Bitcoin holdings have now reached 2,100 BTC, representing about 0.01% of the total Bitcoin supply.
Japanese investment company Metaplanet has added to its Bitcoin holdings with a recent purchase worth $6.6 million, bringing its total Bitcoin possession to 2,100 BTC. This accounts for approximately 0.01% of the total Bitcoin supply.
Details of the Purchase
The Tokyo-based firm made a public announcement on Thursday about the purchase of an additional 68.59 Bitcoin. The purchase was made for approximately 996 million Japanese yen, equivalent to around $6.6 million.
In a recent notice of the additional purchase, Metaplanet revealed that the latest acquisition had an average price of 14.53 million yen per BTC. The firm also monitors BTC Yield, a metric that shows changes in Bitcoin holdings relative to its fully diluted shares. It reported a 41.7% BTC Yield for Q3 2024, which significantly increased to 309.8% in Q4 2024.
Metaplanet’s Bitcoin Strategy
Metaplanet initiated its Bitcoin strategy on April 8, 2024, with a goal to amass 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026. With the recent acquisition, the firm has achieved about 2.38% of its previously revealed “21 Million Plan”. This plan involved issuing 21 million shares of 0% discount stock acquisition rights to EVO FUND. Following this news, Metaplanet’s shares experienced a 1.79% increase on the over-the-counter market.
Earlier in February, Metaplanet’s shares saw a decline of over 8% after the firm announced a 10-for-1 stock split aimed at enhancing liquidity. This move came after an August 2024 reverse split that consolidated 10 shares into one. Metaplanet stated that the rapid surge of the stock had made it pricey for investors to enter. Despite these fluctuations, Metaplanet has emerged as Japan’s top-performing stock, skyrocketing 3,600% after shifting its focus to Bitcoin.
