Japan-Based Metaplanet Increases BTC Holdings to 1,762, Making It the 12th-Largest Publicly Listed Bitcoin Reserve Globally

Japan-based early-stage investment firm Metaplanet continues its Bitcoin (BTC) buying spree. The company announced today that it has purchased 619.7 BTC

Japan-based early-stage investment firm Metaplanet Holdings Inc (TYO:1571) announced on Friday that it has purchased 619.7 Bitcoin (CRYPTO: BTC) for about $61 million – including fees and other expenses – making it the firm’s largest BTC acquisition to date.

The recent crypto market downturn from its all-time highs does not appear to bother Metaplanet, as the Tokyo-listed firm made its largest BTC purchase to date, buying 619.7 BTC for an average price of around $96,000.

MetaPlanet began buying BTC earlier this year in May with a purchase of 97.9 BTC. Since then, the company has purchased BTC every month, except for September, and crossed the 1,000 BTC milestone in November. The latest acquisition has pushed MetaPlanet’s total Bitcoin holdings to 1,762, bought at an average price of $75,600 per BTC.

Notably, this $61 million purchase is nearly double the value of MetaPlanet’s previous largest acquisition, which occurred in November and was worth close to $30 million.

The company’s consistent BTC accumulation has earned it the nickname “Asia's MicroStrategy (NASDAQ:MSTR),” in reference to the US-based business intelligence firm known for its aggressive Bitcoin buying strategy.

It is also worth highlighting that today’s BTC purchase comes a week after MetaPlanet raised $60.6 million through two tranches of bond issuance for the purpose of “accelerating BTC purchases.”

MetaPlanet’s latest purchase also makes its BTC reserves the 12th-largest among publicly listed firms globally. According to the company’s official announcement, its BTC Yield – a proprietary metric used to measure the performance of its Bitcoin acquisition strategy – stood at 310% from October 1 to December 23. The firm highlighted that this strategy is designed to be “accretive to shareholders.”

Despite today’s significant BTC purchase, MetaPlanet’s stock price saw little movement, closing at $22.5, down 0.98% for the day. However, on a year-to-date basis, the company’s stock has surged by an impressive 1,982%, reflecting the long-term benefits of its Bitcoin-centric strategy.

Continue reading on Benzinga