Metaplanet Becomes Asia's Largest Bitcoin Holder
By: Isha Das
Japan-based Metaplanet has emerged as Asia's largest Bitcoin holder by incrementally increasing its Bitcoin holdings to over 1,000 BTC. The company's significant milestone was achieved by a recent acquisition of 156.78 BTC at an investment of $10.4 million. This escalated Metaplanet's total Bitcoin stash to 1,018.17 BTC, valued approximately at $68.8 million. This ongoing acquisition is part of Metaplanet's wider strategy to consider Bitcoin as a strategic reserve asset, a practice adopted back in May.
During the fiscal period from September 30 to October 28, Metaplanet purchased a substantial 619.338 BTC, thus confirming its status as a major cryptocurrency holder not just in Asia, but globally. Blockchain analytics from Arkham Intelligence revealed that the firm’s investment strategy is currently proving profitable, yielding an unrealized gain exceeding $6 million due to the recent bullish trend in Bitcoin prices. Metaplanet has expressed intentions to use BTC Yield as a key metric, similar to MicroStrategy, to evaluate its BTC holdings' growth, which stood at 155.8% from October 1 to 28.
The company’s strategic decisions have had a positive effect on its stock as well. Following the announcement of its expanded Bitcoin portfolio, Metaplanet's stock surged by 8% during early trading hours. The stock's upward trajectory aligns with the company's firm stance on integrating Bitcoin into its core investment strategy, which resonates with shareholder value enhancement and reflects the broader interest and confidence in cryptocurrency assets.
Presently, Metaplanet surpasses Hong Kong-based Meitu Inc., which holds 940.9 BTC, thus cementing its standing as Asia's largest publicly traded Bitcoin holder and placing it in the 19th position globally among firms holding Bitcoin. Metaplanet CEO Simon Gerovich has affirmed the company's continuing commitment to increasing its Bitcoin reserves, signaling further potential growth in its cryptocurrency holdings.
