Metaplanet Increases Bitcoin Holdings to 2,225 BTC Despite Market Fluctuations
Metaplanet, a Tokyo-based public company, has purchased an additional 135 BTC for about $13 million, increasing its total holdings to 2,225 BTC, valued at approximately $196 million. This acquisition occurred just before Bitcoin’s recent price drop. The company aims to expand its Bitcoin reserves to 10,000 by 2025 and 21,000 by 2026, while currently owning about 0.01% of the total Bitcoin supply.
Metaplanet, a public-traded company in Japan, has recently increased its Bitcoin holdings by acquiring an additional 135 BTC for approximately $13 million, just prior to a significant price drop for the cryptocurrency. This acquisition pushes Metaplanet’s total Bitcoin holdings to 2,225 BTC, valued at around $196 million based on current market prices. The company’s purchasing strategy has led to a near-term loss due to Bitcoin’s decline to a three-month low of $87,115 shortly after the purchase, with prices currently around $88,929 according to CoinGecko.
Trading on the Tokyo Stock Exchange, Metaplanet purchased its latest Bitcoin holdings at an average price of ¥14,360,449 ($96,185) per coin. This aggressive accumulation positions the company as the 14th largest holder among publicly traded corporations, based on data from Bitcoin Treasuries. Since implementing its Bitcoin treasury strategy in May 2024, Metaplanet has reported a yield of 23.2% on its BTC investments.
Moreover, Metaplanet aims to enhance its Bitcoin reserves significantly, having previously announced intentions to increase its holdings by 470%. As part of its long-term strategy, the company aspires to hold 10,000 BTC by the end of 2025 and ultimately 21,000 BTC by the conclusion of 2026. According to Dylan Le Clair, the company’s Director of Bitcoin Strategy, approximately 5.54% of this plan has already been executed, raising approximately $47 million through stock acquisition rights.
As of late, Metaplanet has also disclosed its ownership of roughly 0.01% of the total Bitcoin supply. The company observes a model similar to that of Strategy, led by Michael Saylor, which is recognized as the largest corporate holder of Bitcoin, maintaining nearly 500,000 BTC. Strategy has also introduced the BTC Yield indicator, a crucial metric for assessing the performance of a corporation’s Bitcoin reserves relative to its diluted outstanding shares.
In summary, Metaplanet’s strategic acquisition of Bitcoin reflects its commitment to enhancing its treasury reserves in the face of market fluctuations. With plans to significantly boost its holdings over the next few years, the company remains a notable player among publicly traded firms pursuing cryptocurrency investments. Despite the immediate impact of market volatility, Metaplanet’s proactive strategy positions it favorably for future growth in the cryptocurrency landscape.
Original Source: zycrypto.com
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