Metaplanet Boosts Bitcoin Holdings to 7,800 BTC, Enters Top 10 Public Companies
Metaplanet, a Japanese technology company, has bolstered its Bitcoin holdings with a significant purchase. On Monday, the company acquired an additional 1,004 BTC, spending around $104 million. This move has propelled Metaplanet into the top 10 list of public companies with the largest Bitcoin reserves.
Metaplanet's Bitcoin yield stands at an impressive 170%, with a gain of 2,996 BTC as of May 12. The company's total Bitcoin holdings now amount to 7,800 BTC, valued at over $800 million. This aggressive accumulation has drawn comparisons to MicroStrategy, the U.S.-based business intelligence company led by Bitcoin advocate Michael Saylor. Other prominent figures with substantial Bitcoin holdings include Michael Novogratz of Galaxy Digital, the founders of Coinbase, Elon Musk of Tesla, and Jack Dorsey of Square.
Metaplanet's Bitcoin-focused strategy has paid off handsomely. Since adopting this approach, the company's stock price has soared by over 1500%. Metaplanet funds its Bitcoin purchases through the issuance of zero-coupon ordinary bonds, with a total investment of approximately $712.5 million. The recent acquisition of 1,004 BTC has pushed Metaplanet's stock price to a three-month high, appreciating by 12.6%. In the first quarter of fiscal 2025, Metaplanet's revenues were $6 million, with a significant portion, 88%, coming from Bitcoin options trading.
Metaplanet's latest Bitcoin purchase is a testament to the company's commitment to accumulating the cryptocurrency. With its sights set on holding 10,000 BTC by the end of 2025, Metaplanet is rapidly solidifying its position as 'Asia's MicroStrategy'.
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