Key Points
- Metaplanet, a Tokyo-listed company, has purchased an additional 9.5 billion yen ($60.6 million) worth of Bitcoin, raising its total holdings to 1,761.98 BTC.
- The company’s latest acquisition came after raising 5 billion yen ($32 million) through its 5th Series of Ordinary Bonds issued via private placement with EVO FUND.
Metaplanet, a Japanese company listed on the Tokyo Stock Exchange, has added another 619.7 Bitcoin to its crypto treasury strategy.
The company paid an average price of 15,330,073 yen per Bitcoin, with the total investment amounting to 9.5 billion yen.
Metaplanet’s Bitcoin Holdings
As per the firm’s latest financial disclosure, Metaplanet now holds a total of 1,761.98 Bitcoin.
The average purchase price per Bitcoin stands at approximately 11,846,002 yen (~$75,628).
To date, the company has invested a total of 20.872 billion yen in Bitcoin acquisitions.
This recent purchase is the most significant one for the company, headquartered in Tokyo.
It follows closely on the heels of Metaplanet issuing its 5th Series of Ordinary Bonds via a private placement with EVO FUND, raising around 5 billion yen ($32 million).
The funds raised were specifically allocated for purchasing Bitcoin.
These bonds, due to mature in June 2025, carry no interest and allow for early redemption under certain conditions.
Bitcoin Performance and Metaplanet’s Strategy
Metaplanet also provided updates on its BTC Yield, a metric used to gauge the growth of Bitcoin holdings relative to fully diluted shares.
From October 1 to December 23, Metaplanet’s BTC Yield jumped to 309.82%, a significant increase from 41.7% in the previous quarter.
Bitcoin has demonstrated robust performance this year, with a 120% increase, outperforming assets like the Nasdaq 100 and S&P 500 indices.
However, it recently retreated from its all-time high of $108,427, trading at $97,000 after the Federal Reserve indicated only two interest rate cuts in 2025.
Despite the pullback, on-chain metrics suggest that Bitcoin is still undervalued based on its Market Value to Realized Value (MVRV-Z) score.
Currently, the MVRV-Z score is 2.84, below the threshold of 3.7, which historically indicates that an asset is overvalued.
