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Japan-based investment firm Metaplanet has raised over 1,000 Bitcoin (BTC) with its latest issue acquisitionestablishing itself as one of the largest holders of digital assets in Asia.
Metaplanet Bitcoin Holdings owns the top 1,000 bitcoins
In an announcement on October 28, Tokyo-listed Metaplanet said it had purchased an additional 156.78 bitcoins at an average price of $66,436 per bitcoin. The latest purchase brings Metaplanet’s total Bitcoin holdings to 1,018 BTC, which were acquired at an average price of $61,629.
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Commenting on this achievement, Simon Jerovic, CEO of Metaplanet, noted, “The recent purchase of Bitcoin makes Metaplanet one of the largest holders of Bitcoin in Asia.” The company further stated:
Since adopting Bitcoin as a treasury reserve asset, the Company has strategically increased its total Bitcoin holdings through acquisitions funded by capital market activities and operating income.
Metaplanet first announced resolution To adopt Bitcoin as a strategic reserve asset in May 2024. Adhering to the “Bitcoin first, Bitcoin only” approach, Metaplanet will also continue Expanded Her holdings are Bitcoin with a $2 million purchase in September.
Over the summer, Metaplanet embarked on a Bitcoin acquisition spree, purchasing more than 50% — about 620 BTC — of its existing holdings within a single month, from September 30 to October 28.
It is worth noting that this acquisition has now placed Metaplanet ahead of another prominent Asian company, Meitu Inc., in terms of total BTC reserves. According to CoinGecko DataOwned by Meitu Inc. Currently 940 BTC compared to Metaplanet’s 1018 BTC.
Among publicly traded companies with significant Bitcoin reserves, Metaplanet now ranks 15th, topping the list is US-based business intelligence firm MicroStrategy, which holds 252,220 Bitcoin, representing roughly 1.2% of the total Bitcoin supply.
BTC strategy reflected in Metaplanet stock price
According to According to Arkham Intelligence, Metaplanet’s BTC investment strategy appears to be yielding strong results. At Bitcoin’s current price of just over $67,000, Metaplanet has unrealized gains of over $6 million.
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In its announcement, Metaplanet highlighted a key performance indicator (KPI) called “BTC Return,” which reflects the percentage change in the ratio of total BTC holdings to fully diluted shares outstanding over a specified period.
In essence, the KPI helps investors evaluate the impact of Metaplanet’s Bitcoin acquisitions on shareholder value. Between October 1 and October 28, Metaplanet’s Bitcoin return rose to 155.8%.
Following today’s Bitcoin buying news, Metaplanet’s stock price jumped more than 7%, according to data from Yahoo! finance.
In related news, Maltese asset management company Samara Group recently announced Announce It plans to issue bonds worth more than $32 million, with a portion of the proceeds potentially earmarked to purchase Bitcoin as a strategic reserve asset.
At press time, Bitcoin is trading at $68,780, up 1.6% over the past 24 hours, with a total market cap of just over $1.35 trillion.
Featured image from Unsplash, chart from Tradingview.com