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Metaplanet Spends Another $26M Buying Bitcoin, Lifting Holdings Above 2K BTC
The Tokyo-based company said it spent an average of 14.8 million yen per bitcoin.
What to know:
- Metaplanet bought an additional 269.43 bitcoin for 4 billion yen ($26.4 million), bringing its total holdings to 2,031.41 BTC
- The company started the purchase program in April 2024 and has now spent more about 24.9 billion yen on the cryptocurrency.
Metaplanet (3350) said it bought a further 269.43 bitcoin (BTC), strengthening its position as a major corporate holder of the cryptocurrency. The latest purchase, valued at 4 billion yen ($26.4 million), takes the Tokyo-based company's holdings to 2,031.41 BTC.
The purchase is part of the company’s ongoing Bitcoin Treasury Operations; it started buying the largest cryptocurrency in April 2024 and has now made an aggregate investment of 24.9 billion yen at an average price of 12.2 million yen, it said in a document posted on its website.
STORY CONTINUES BELOW
The move aligns with Metaplanet’s commitment to increasing its bitcoin yield, a measure of the change in the ratio of BTC holdings to shares outstanding. The company achieved a yield of almost 310% in the fourth quarter, and its yield for the first quarter is currently 15.3%.
The purchase follows last month's $745 million fund-raising exercise through the issuance of 21 million shares. The bitcoin-buying strategy mirrors that of corporate pioneers like MicroStrategy, and it becoming more popular in Japan’s financial sector. Last week, energy firm Remixpoint said it spent 9 billion yen buying bitcoin last year.
Among publicly traded companies, Metaplanet now has the 16th-largest stack, according to Bitcoin Treasuries. Metaplanet shares rose 2.2% to 6,040 yen on Monday.
Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
AI Boost
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk's AI Policy.
