A Japanese investment company, Metaplanet, has purchased 10 million US Dollars worth of Bitcoin (BTC). Now, the Metaplanet has succeeded in increasing its
Japanese investment company Metaplanet has now increased its total Bitcoin (BTC) ownership to more than 1,000 BTC after purchasing 156.7 BTC. The latest purchase was made on October 28 and brought their total BTC reserves to 1,018 BTC, valued at approximately 68.8 million US Dollars (IDR 1.08 trillion).
According to the report, Metaplanet recorded impressive Bitcoin investment returns, with yields reaching 41.7% from July 1 to September 30, which increased rapidly to 155.8% from October 1 to 28. The recent Bitcoin price surge has also resulted in Metaplanet making unrealized profits of over 6 million US Dollars (Rp. 94 billion), based on data from Arkham Intelligence.
The market has responded positively to the news, with Metaplanet’s shares surging 7.18% to 1,150 yen (Rp118.346). This also marks a 16.04% increase in the past month and an incredible 618.75% since the beginning of the year.
“Our decision to invest in Bitcoin was made at a crucial time,” said Simon Gerovich, CEO of Metaplanet, as quoted by Crypto Potato. Faced with challenging balance sheets and significant debt, the company saw Bitcoin as a way to stabilize and improve its financial condition. The move was inspired by MicroStrategy’s approach, which is known to be aggressive in accumulating Bitcoin as a protection measure against economic uncertainty.
Since entering the Bitcoin market in May, Metaplanet has been steadily increasing its holdings. Several large purchases were made by the company throughout their investment. In June, they bought 23.351 BTC for about 1.6 million US Dollars (Rp25 billion), followed by 42.4 BTC for 2.4 million US Dollars (Rp37.7 billion), bringing their total holdings to 203.7 BTC. Later purchases include 57.273 BTC, valued at approximately 3.4 million US Dollars (Rp53.5 billion), and an addition of 106.976 BTC earlier this month, valued at about 6.6 million US Dollars (Rp103 billion).
To support this acquisition, Metaplanets sometimes utilizes external financial sources. One of them is a loan of 1 billion yen (approximately IDR 102 billion) from MMXX Ventures, one of their shareholders. Additionally, the company has also issued 11 share acquisition rights, with the latest one being fully completed on October 23. This issuance managed to raise 10 billion yen (IDR 1 trillion), where 13,774 shareholders bought shares at a discounted price of 555 yen (IDR 57,092) per share.
Investors’ positive response to Metaplanet's move suggests that confidence in Bitcoin among market players remains strong. The company’s surging share price indicates a growing interest in digital assets. As more and more large institutions begin to invest in Bitcoin, like Metaplanets, it could indicate that the crypto market will be accelerating further.
