Key Points
- Metaplanet, a Tokyo-listed investment firm, has increased its Bitcoin holdings to over 1,000 BTC.
- The company’s latest acquisition was 156.7 BTC, bringing its total holdings to 1,018 BTC.
Metaplanet, a Japanese investment firm, has made a significant addition to its cryptocurrency portfolio. The firm now holds more than 1,000 Bitcoin (BTC) following a recent purchase.
On October 28, Metaplanet announced that it had bought an additional 156.7 BTC. This investment, worth approximately 1.6 billion yen ($10.4 million), increased the firm’s total Bitcoin holdings to 1,018 BTC, valued at roughly $67.8 million.
Impressive Yield and Share Performance
Between July 1 and September 30, Metaplanet reported a yield of 41.7%. However, this figure shot up to 155.8% from October 1 to October 28. This news was well received by investors, with Metaplanet’s shares increasing by 7.46% to 1,153 yen. This represents a 13.4% increase over the past month and a 578.2% rise year-to-date.
Bitcoin as a Key Performance Indicator
Metaplanet recently adopted “BTC Yield” as a key performance indicator (KPI) to evaluate its Bitcoin acquisition strategy. This metric measures the growth in Bitcoin holdings over a specific period relative to the company’s fully diluted shares outstanding. This move aims to offer increased transparency regarding the firm’s Bitcoin strategy.
Earlier this year, Metaplanet began treating Bitcoin as a reserve asset. This decision came as a response to economic challenges in Japan, including the depreciation of the yen. The firm’s diversification into Bitcoin followed the Bank of Japan’s decision to raise its benchmark interest rate to 0.25%, aiming to stabilize the currency.
