Metaplanet Boosts Bitcoin Treasure Amid Japanese Crypto Boom

By: Eliza Bennet

Japan’s investment firm, Metaplanet, has announced a significant acquisition of Bitcoin, spotlighting its aggressive strategy in expanding its digital asset treasury. Over October, the firm has strategically augmented its portfolio by purchasing over 450 BTC, now holding a substantial 855.5 BTC valued at $56.1 million. This assertive move comes amidst a wider crypto boom in Japan, where many firms are increasing their Bitcoin holdings as a hedge against volatility.

This month alone, Metaplanet made multiple acquisitions, including a purchase of 106.976 BTC on October 15 for approximately $6.7 million. The venture is part of the company's ongoing Bitcoin accumulation plan, and it has effectively doubled its Bitcoin holdings in just this month. On October 1, the firm secured 107.91 BTC for roughly $7 million. Utilizing strategic financial instruments, Metaplanet further enhanced its holdings by acquiring nearly 24 BTC as a premium by selling put options earlier in the month.

As of October 15, data from blockchain analytics firm Arkham Intelligence highlights that these transactions have proceeded to yield a profit of approximately $581,000 for Metaplanet. The impact of these acquisitions extends beyond the digital asset market, as Metaplanet’s stock has witnessed a significant surge. Recent stock trading reports indicate a 15% increase in the firm’s stock price, reflecting a 500% rise year-to-date, showcasing investor confidence boosted by the Bitcoin reserves.

This strategy places Metaplanet among the frontrunners in Asia for companies holding substantial Bitcoin reserves, second only to Hong Kong-based Meitu. Globally, they align with firms like MicroStrategy, which is known for its massive Bitcoin treasury worth over $16 billion, setting a precedent in the realm of cryptocurrency acquisition by public companies.