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‘Japanese MicroStrategy’ Metaplanet Buys Another ¥1 billion Worth of Bitcoin
- Metaplanet has increased its Bitcoin holdings by purchasing an additional 108.786 BTC, bringing the total to 639.5 BTC.
- The company spent approximately AU$91,850 per Bitcoin, with the total value now reaching AU$59.59 million.
- Metaplanet, publicly traded on the Tokyo Stock Exchange, focuses on Bitcoin as its primary treasury reserve asset to drive global adoption.
- Their share price has soared to ¥916, triple since April, reflecting their successful Bitcoin investment strategy.
Metaplanet strikes again! The Japanese firm, specialised in consulting services, has just added a whopping 1 billion Yen in Bitcoin to their holdings – that’s $9,988,455 in Australian Dollars.
The company announced Monday, 7 October, that it purchased an additional 108.786 of Bitcoin, bringing their total holdings to 639.50 BTC.
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They bought Bitcoin at a recent average price of AU$91,850, and the average price of their total holdings is now AU$93,163. The total 639.5 BTC are worth AU$59.59 million at the time of writing.
Metaplanet Convinced About Bitcoin’s Global Role
Publicly traded on the Tokyo Stock Exchange (TSE), Metaplanet has more than ten years of experience in finance, trading, and real estate, now focusing on Bitcoin as its primary treasury reserve asset.
The company wants to increase shareholder value by accumulating Bitcoin and promoting its global adoption through strategic partnerships and guiding other organisations to use it as a strategic reserve.
In a statement, they pointed to the increasing adoption of Bitcoin and noted that even nation-states are getting involved:
Bitcoin and other “virtual currency” crypto assets have cemented their presence in, and have clearly become a permanent fixture of, the global financial system. […] There is little doubt that Bitcoin now plays a role in the international investment and finance industry.
Metaplanet Metaplanet’s share price has tripled to ¥916 (AU$9.15) since April when it was trading for ¥340 (AU$3.39).
‘MicroStrategy of Asia’ Still Holds Considerably Less BTC Than Its ‘Idol’
Metaplanet only announced it would start buying Bitcoin in April 2024, with an initial purchase of 97.85 BTC. Despite the impressive accumulation, the amount they have acquired so far is dwarfed by that of Michael Saylor’s MicroStrategy (MSTR).
The Tyson, Virginia-based company, started its Bitcoin buying spree in 2020, after Saylor went down a rabbit hole, educating himself on the OG crypto and becoming one of its biggest advocates.
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The former software company has since rebranded and considers itself now a “Bitcoin development company”.
MSTR currently holds 252,220 BTC worth a total of AU$23.3 billion. The latest MSTR Bitcoin purchase was 20 September 2024 when it acquired another 7,420 BTC for AU$677.3 million.
MSTR’s share price is up by almost 350% in the past 12 months, going from AU$47.69 in September 2023 to AU$213.73 on 20 September 2024.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
