Key Takeaways:
Japanese investment firm Metaplanet has expanded its Bitcoin holdings to 1000 BTC, approximately $69.49 million, after investing an additional $10.4 million in the world’s largest cryptocurrency by market capitalization.
Metaplanet Acquires $10M Worth of Additional Bitcoin for Treasury Reserve
On Monday, the Tokyo Stock Exchange-listed company disclosed that it acquired 156.78 BTC at an average price of 10.2 million yen ($66,436) per token. The latest acquisition brings Metaplanet’s total reserve holdings of Bitcoin to 1,018.17 BTC, valued at roughly $68.8 million.
In an X post, Metaplanet CEO Simon Gerovich declared that Metaplanet is now one of the largest corporate holders of Bitcoin in Asia. Responding to a question about future acquisition plans, he confirmed the company’s commitment and replied “Always and forever”.
Metaplanet has been on a Bitcoin accumulation spree over the recent months following a May announcement to adopt the digital asset as a strategic treasury reserve asset. According to the company’s statement, it increased its holdings from 141.07 BTC at the end of June to 398.83 BTC by the end of September, surpassing the 1,000 threshold last month.
Earlier in October, the company purchased 106.976 BTC, worth 1 billion yen ($6.6 million), bringing its total holdings to $57.4 million.
Metaplanet Raised $66 Million from Shareholders to Fuel its Bitcoin Acquisition Program
Just last week, Metaplanet raised nearly 10 billion yen (approx. $66 million) through its eleventh planned stock acquisition rights offering, which was participated in by 13,774 individual shareholders. The stock acquisition rights, announced on August 6 when company shares were trading at 700 yen ($4.59), allow shareholders to buy a stake in Metaplanet at a discounted rate of 555 yen ($3.64) per share.
The rights were issued at no charge to shareholders, with one right allocated per common stock held in the company. This capital injection and income from its operations have enabled Metaplanet to continually expand its Bitcoin reserve.
Despite its growing Bitcoin holdings, Metaplanet highlighted that holding its common shares does not offer any ownership over its Bitcoin assets. The firm does not pay any dividends on these shares, underscoring its focus on capital reinvestment.
Metaplanet also announced that it has rolled up its Bitcoin put options, previously disclosed on October 3, by adjusting the strike price to $66,000 from $62,000. The move comes as the company is increasingly optimistic about the outlook for the apex cryptocurrency.
Recently, Metaplanet partnered with Bitcoin verification solutions provider Hoseki to allow shareholders to verify its BTC holdings. The firm said the move is intended to enhance transparency and trust in its crypto treasury through the use of the Hoseki Verified platform.
MicroStrategy and Marathon Digital Lead the Charts in Corporate Bitcoin Holdings
Ongoing macroeconomic uncertainties triggered by increasing inflationary pressures and geopolitical tensions have prompted corporations to explore the addition of Bitcoin as a reserve asset to their treasury.
Pro-Bitcoin advocate and billionaire Michael Saylor’s business intelligence and analytics firm remains the largest corporate holder of Bitcoin. According to BitcoinTreasuries data, the company owns 252,220 BTC, worth $17.5 billion. Bitcoin miner Marathon Digital follows in second place with 26,842 BTC, worth $1.865 billion.
At the time of writing, Bitcoin (BTC) is trading at $69,496 – down 3.8% over the past 24 hours.
Bitcoin Price Stands Still Near All-Time High As Retail Interest Yet To Pick Up Steam
