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Ruholamin Haqshanas
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Ruholamin Haqshanas
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Japanese investment firm Metaplanet has made its largest Bitcoin purchase to date, acquiring nearly 620 BTC as the cryptocurrency trades below $100,000.
On December 23, the company announced the $60 million acquisition of 619.7 BTC at an average price of approximately $96,000 per coin.
The purchase marks a significant milestone for Metaplanet, nearly quadrupling its previous record buy of 159.7 BTC in October.
Dubbed “Asia’s MicroStrategy,” the Tokyo-based firm now holds a total of 1,762 BTC, valued at around $168 million, with an average purchase price of $75,600 per Bitcoin.
The company reported a 310% BTC yield between October and December, a sharp increase from the 41.7% yield in the preceding quarter.
Metaplanet views its Bitcoin acquisition strategy as a key value driver for shareholders.
Looking ahead, the firm plans to expand its Bitcoin operations into a dedicated business line, incorporating loans, equity, and other instruments to support its BTC strategy.
In November, Metaplanet announced a stock acquisition program aiming to raise $62 million for further Bitcoin purchases.
Following the announcement, Metaplanet’s stock rose 5% on the Tokyo Stock Exchange, although it remains down 13% over the past week.
For the year, shares have surged over 2,100%, driven by the firm’s aggressive Bitcoin adoption strategy.
More recently, Metaplanet raised 9.5 billion yen ($60.6 million) through two tranches of bond issuance aimed at accelerating its Bitcoin purchases.
Last week, the Tokyo-listed company announced it issued a 5 billion yen ($31.9 million) bond on Friday, following a 4.5 billion yen ($28.7 million) bond issuance earlier in the week.
Both bonds are zero-interest and set to mature on June 16, 2025.
According to Metaplanet CEO Simon Gerovich, the funds will allow the company to expedite its planned 2025 Bitcoin acquisitions into the current fiscal year.
As reported, Metaplanet is poised to achieve its first consolidated operating profit in seven years, just months after incorporating Bitcoin into its balance sheet.
The firm announced last week that it expects to generate 890 million Japanese yen ($5.8 million) in revenue for the fiscal year ending December 31, a significant increase from the 261 million yen recorded in the previous fiscal year.
The company’s operating profit is projected to reach 270 million yen, a sharp turnaround from the 468 million yen loss it suffered last year.
A substantial portion of Metaplanet’s revenue comes from its Bitcoin-related activities, particularly its strategy of selling Bitcoin put options.
This approach generated 520 million yen in income, making it a key driver of the company’s improved financial outlook.
Put options allow investors to sell an asset at a pre-agreed strike price, and Metaplanet earns a premium for each contract sold, regardless of whether the option is exercised.
If exercised, the company can acquire Bitcoin at the agreed price, aligning with its broader strategy of accumulating the cryptocurrency.
