News

Metaplanet Bitcoin Investment Strengthens With New ¥200 Million BTC Purchase

Key Points:

Metaplanet increased its Bitcoin holdings by purchasing an additional 21.38 BTC, bringing its total reserves to 245.992 BTC.
The company has been steadily acquiring Bitcoin since April to hedge against the weakening Japanese yen.
Metaplanet Bitcoin investment strategy has led to a significant stock performance boost, with shares surging over 150% in May.

Japanese public company Metaplanet, often referred to as “Asia’s MicroStrategy,” has expanded its Bitcoin holdings with a new purchase on Monday.

Metaplanet Bitcoin Investment Boosted with Latest Acquisition

The company acquired an additional 21.38 Bitcoins, valued at ¥200 million ($1.4 million), equating to an average price of ¥9.81 million ($62,300) per coin. The recent acquisition elevates Metaplanet’s total Bitcoin reserves to 245.992 BTC, now worth $16.73 million.

Metaplanet Bitcoin investment strategy is evident, with a prior purchase of 21.88 Bitcoins on July 16, also worth ¥200 million at the time. The strategy aligns with the company’s board decision last month to invest ¥1 billion ($6.26 million) in Bitcoin using funds raised through a bond issuance.

Since April, Metaplanet has been systematically acquiring Bitcoin, adopting a dollar-cost averaging (DCA) approach similar to that of U.S. firm MicroStrategy. Metaplanet Bitcoin investment to diversify into Bitcoin is driven by the desire to hedge against the depreciating Japanese yen.

Strategic Bitcoin Investments Drive Metaplanet’s Surge

The investment policy has significantly benefited Metaplanet’s stock performance. The company’s consistent Bitcoin purchases, including six separate transactions since April 23, have bolstered its market standing. In May, Metaplanet’s stock surged over 150%, marking it as one of the top gainers in the Japanese market.

Despite being listed on the Tokyo Stock Exchange, which limits U.S. investor access, Metaplanet is exploring tokenization options. According to Arnab Naskar, co-founder of security token platform STOKR, there are plans to tokenize Metaplanet shares on the Bitcoin layer-2 network Liquid, potentially broadening its investor base.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.