Key Takeaways
- Metaplanet bought an additional $6.7M in Bitcoin, adding 108.8 BTC.
- The company now holds 639.5 BTC, worth approximately $40.6 million.
- Metaplanet is the second-largest Bitcoin holder among Asia-listed firms.
Metaplanet, a Tokyo-listed investment advisor, has purchased an additional 1 billion yen ($6.7 million) worth of Bitcoin. This acquisition adds 108.8 BTC to its holdings, which now total 639.5 BTC. The company revealed that the average purchase price was just under 9.2 million yen per Bitcoin.
With this latest purchase, Metaplanet has spent almost 6 billion yen on Bitcoin at an average price of 9.3 million yen per coin. Its current Bitcoin holdings are valued at approximately $40.6 million, making Metaplanet the second-largest Bitcoin holder among Asia-listed companies. Hong Kong-based Meitu leads with 941 BTC, while the global leader, MicroStrategy, holds over 252,000 BTC.
Metaplanet has also employed additional strategies to increase its Bitcoin holdings. On October 3, the company sold 223 Bitcoin put options, generating a premium of 23.972 BTC ($1.44 million). The company has adopted Bitcoin as a reserve asset since May, aiming to hedge against the volatility of Japan’s currency.
Following the announcement of the purchase, Metaplanet’s stock saw a 7.9% increase to 988 yen, contributing to a year-to-date growth of over 500%.
