Metaplanet Inc. plans to increase its Bitcoin holdings by 470%, aiming to reach 10,000 BTC this year as it continues to build on an accumulation strategy first undertaken in April.
CEO Simon Gerovich says Metaplanet will expand its BTC holdings by “utilizing the most accretive capital market tools available.”
“Last year was transformational, as we broke records, expanded our Bitcoin treasury, and reinforced our position as Asia’s leading Bitcoin Treasury Company,” Gerovich tweeted Saturday. “This year, we’re laser-focused on execution and driving even greater value for our shareholders.”
The Tokyo-based investment firm currently holds 1,761.98 BTC worth 27.2 billion yen (US$173.6 million), according to a December 23 regulatory filing.
It follows a series of 19 purchases last year, with an average acquisition price of 11,846,002 yen per Bitcoin (roughly $75,000 each).
Its most recent purchase of 619.70 BTC for 9.5 billion yen in December marked its largest single acquisition, representing about 35% of its total holdings.
The firm’s Bitcoin holdings began with 97.8 BTC on April 22, growing rapidly in just over six months, with the fastest pace occurring between October and December 2024.
BTC Yield, which measures how much Bitcoin the company owns compared to its total shares, jumped from 42% to 310% in the last quarter of 2024, showing the company acquired Bitcoin faster than it issued new shares.
The transaction came as Bitcoin traded near $100,000, amid predictions from VanEck and Bitwise of prices between $180,000 and $200,000 in 2025.
Bitcoin strategy
Metaplanet reorganized its share structure in mid-2024 to meet Tokyo Stock Exchange rules before expanding its Bitcoin purchasing power.
On June 28, the company first consolidated its shares 10-to-1, effectively raising their trading price to meet the exchange’s 50,000 yen minimum trading unit requirement.
It then launched a rights offering on August 6 effectively doubling the company’s shares from 18.17 million to 36.27 million while raising 10 billion yen (US$63.7 million) from 13,774 shareholders.
The company secured additional funds through two bond sales totaling 9.5 billion yen (US$60.3 million) in December, while setting up a new stock rights program in November for future fundraising needs.
By December 18, Metaplanet formalized its Bitcoin Treasury Operations as an official business line, shifting from one-off purchases to systematic accumulation.
“We specifically note that we have acquired Bitcoin using proceeds from various financing activities,” the company stated in its filing with the Tokyo Stock Exchange, outlining plans to continue leveraging capital markets for future purchases.
Financial data reveals a shifting acquisition strategy for Metaplanet, which has been touted as “Asia’s answer to MicroStrategy,” as it followed the latter’s playbook for corporate Bitcoin acquisitions.
The ambitious expansion target comes as analysts forecast potential government adoption of Bitcoin reserves could trigger broader institutional investment in 2025.
That has prompted other corporate entities to begin aggressively accumulating Bitcoin with an eye on long-term growth as traders and institutions anticipate rising prices for crypto this year.
Edited by Sebastian Sinclair
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Vince Dioquino
https://decrypt.co/299644/japans-metaplanet-to-expand-bitcoin-holdings-by-470-in-2025
2025-01-06 01:50:33
