Metaplanet Inc., the Tokyo-listed firm known for its aggressive foray into Bitcoin (BTC), announced on Friday that it had acquired an additional 108.999 Bitcoin for ¥1 billion (US$6.5 million).
Its latest purchase brings the company's total Bitcoin holdings to 748.502 BTC, reinforcing its long-term bet on the leading crypto. Yet, Metaplanet's Bitcoin acquisition strategy goes beyond simple spot purchases.
The company employs a sophisticated approach by selling put options alongside its Bitcoin purchases to generate additional yield, Peter Chung, Head of Research at Presto Labs, told Decrypt.
“Metaplanet’s strategy allows them to bottom-fish in case the BTC price declines, a level of sophistication not commonly seen among other companies,” Chung said.
Japan's Answer to MicroStrategy Buys Up Millions More in Bitcoin
A Japanese investment firm that’s been dubbed the Asian country’s answer to MicroStrategy—the American software firm that pioneered the Bitcoin treasury reserve strategy—has bought even more BTC. Metaplanet, a publicly-traded company listed on the Tokyo Stock Exchange, said Monday that it had bought 108.786 Bitcoin for 1 billion yen ($6.7 million). It now holds 639.5 Bitcoin, today worth over $40 million. The company offers specialized consulting services to assist businesses in adopting the b...
Friday’s acquisition follows earlier purchases this month, bringing its total Bitcoin investment to ¥6.9 billion (US$46.8 million). The company has now accumulated 748.502 BTC, equating to around $45.2 million based on Bitcoin’s value of $60,420.
"Metaplanet is now one of the three Asia-based public companies buying Bitcoin for their treasury, along with Nexon and Meitu," Chung added.
He also noted that the company is capitalizing on the recent strength of the Japanese yen against the U.S. dollar. Metaplanet first began its Bitcoin buying spree in April 2024.
Metaplanet Adds $6.6 Million in Bitcoin to Its Corporate Treasury
Metaplanet, a Japanese investment firm, has announced the acquisition of an additional 107.913 Bitcoin (BTC) for 1 billion yen, equivalent to approximately $6.6 million. The purchase was made at an average price of 9,266,724 yen, or around $61,932, per Bitcoin, according to a press release issued on Tuesday. With this latest purchase, Metaplanet’s total Bitcoin holdings now stand at 506.745 Bitcoin. The company’s total investment in Bitcoin has reached 4.75 billion yen, translating to roughly $3...
Leadership at the 13-year-old firm positioned Bitcoin investment as "the most valuable thing we can do for our shareholders," a move that initially boosted its stock price from ¥190 (US$1.32) to a peak of ¥1,008 (US$7.01). Its stock has since cooled to $6.40, data shows.
Asia's answer to MicroStrategy
The firm's Bitcoin strategy mirrors that of MicroStrategy, a U.S.-based software firm known for its vast cryptocurrency holdings.
Like Metaplanet, MicroStrategy has adopted Bitcoin as a core asset in its treasury. Metaplanet initially branded itself as "Asia's answer to MicroStrategy" when it unveiled its Bitcoin treasury strategy.
The firm’s Bitcoin purchases are also part of a larger movement among companies incorporating crypto assets into their long-term investment plans. Notably, Tesla made waves in 2021 with a $1.5 billion USD Bitcoin investment, though it later sold some of its holdings to diversify.
Similarly, Square, now Block Inc., has made Bitcoin a key part of its strategy, investing $50 million USD in 2020 and an additional $170 million USD in 2021.
Edited by Sebastian Sinclair
