Japanese firm Metaplanet has purchased an additional 135 Bitcoin for $13 million, according to a company disclosure—mere hours before Bitcoin’s price dropped to a three-month low on Tuesday.
The Tokyo-listed investment firm acquired Bitcoin at an average price of ¥14,360,449 ($96,185) per coin, raising its total holdings to 2,235 BTC—approximately $196 million at current prices.
This purchase happened right before Bitcoin’s price dropped below $91,000 by Tuesday noon in Japan, shortly after Metaplanet’s purchase. At the time of writing, Bitcoin is changing hands at below $88,000.
Despite buying at a higher price, the company’s portfolio remains in generally positive territory, with its Bitcoin accumulation strategy generating some 12% in unrealized gains since it started stacking sats and bulking up its Bitcoin stash in April last year.
Metaplanet’s share price on the Tokyo Stock Exchange (TYO: 3350) dipped by 3.22% on the news, to ¥6,010 ($40.13), per data from Yahoo Finance.
Its “BTC Yield” metric reached 23.2% for the quarter-to-date period ending February 25, steadily tracking toward its 35% target for Q1 2025, the company reported.
The firm has established a structured Bitcoin acquisition strategy through capital market activities, including the issuance of stock acquisition rights and bonds.
Metaplanet’s “21 Million Plan”
Earlier in January, Metaplanet announced that it was looking to boost its Bitcoin holdings by 470% within the year, to hold 10,000 BTC by the end of 2025, and 21,000 BTC by the end of 2026.
These moves, according to the company, were aligned with its corporate treasury operations, which became an official business line late last year in December.
The company’s strategic accumulation continues despite Bitcoin’s recent volatility, with its average acquisition cost across all holdings at ¥12,441,856 ($81,834) per Bitcoin—still substantially below current market prices, withstanding short-term volatility.
The firm has since completed 5.5% of its previously announced “21 Million Plan,” raising approximately ¥7.13 billion ($47.7 million) through the exercise of stock acquisition rights to fund its ongoing Bitcoin purchases.
Last week, the company, touted as “Asia’s answer to MicroStrategy,” announced that it already held some 0.01% of Bitcoin’s total supply.
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Vince Dioquino
https://decrypt.co/307585/metaplanet-snaps-up-135-bitcoin-for-96000-each-just-before-price-crash
2025-02-25 10:29:39
