Tokyo-based Metaplanet Inc. has solidified its position as one of Asia’s largest institutional Bitcoin holders, following a recent share sale. The company used proceeds to purchase 156.78 BTC at an average cost of 10.2 million Yen per Bitcoin, bringing its total Bitcoin portfolio to 1,018.17 BTC. This strategic move not only strengthens Metaplanet’s market position but also underscores the increasing appeal of institutional Bitcoin investments.
Strategic Move Expands Metaplanet’s Bitcoin Portfolio
Metaplanet announced that it had purchased an additional 156.78 BTC for 1.6 billion Yen, pushing its total Bitcoin holdings to over $66 million. According to CEO Simon Gerovich, this purchase marks a significant step in the company’s strategy, securing Metaplanet’s status as a major Bitcoin player in Asia. Gerovich noted that the company now uses “BTC Yield” as a key performance indicator, measuring its holdings relative to diluted share counts. This metric will allow Metaplanet to closely monitor and evaluate changes in its Bitcoin assets over time.
*Metaplanet purchases additional 156.78 $BTC* pic.twitter.com/4zl2LhXvO6
— Metaplanet Inc. (@Metaplanet_JP) October 28, 2024
Impact on Stock Price and Institutional Trends
To fund this Bitcoin acquisition, Metaplanet raised more than $67 million last week. Reflecting investor confidence in this strategy, Metaplanet’s stock price has risen 6.9% over the past 24 hours, reaching 1,147 Yen. This positive momentum demonstrates strong market support for Metaplanet’s dedication to Bitcoin.
Metaplanet’s strategy has gained attention in Asia and worldwide, where institutional interest in Bitcoin is growing. Companies like MicroStrategy, whose success with BTC investments has encouraged others, lead the way in institutional adoption. For example, Microsoft is set to hold a shareholder vote on Bitcoin investments in 2024. Furthermore, global investment giant BlackRock has increased its interest in crypto markets, executing a $26 billion BTC purchase following the approval of spot Bitcoin ETFs in the United States.
Metaplanet’s expansion signals a rising trend of institutional interest in Bitcoin, with broader acceptance across traditional finance and growing macroeconomic impacts. Turkish NY Radio reports that as institutional investments continue to grow, Bitcoin’s role within both cryptocurrency and traditional finance landscapes will become increasingly prominent.
