tl;dr
Metaplanet, a Japan-based firm, has purchased nearly 620 BTC, marking its largest Bitcoin acquisition to date. The transaction, part of its Bitcoin Treasury Operations, is valued at around $60.6 million and brings the company's total Bitcoin holdings to 1,761.98 BTC, worth almost $168 million. Metap...
Japan-based Metaplanet has made its largest Bitcoin purchase to date, acquiring 619.7 BTC worth $60.6 million. The innovative use of Bitcoin as a treasury asset has led to a turnaround for the company, forecasting an operating profit after years of losses.
Metaplanet has utilized various capital market activities to fund its Bitcoin purchases, reporting a significant increase in BTC Yield. This move aligns with its reputation as "Asia's MicroStrategy," reflecting a bullish stance on corporate Bitcoin investment despite broader market caution.
After a 9.8% drop in Bitcoin’s value over the past week, investors are showing signs of caution, worried about potential further declines. Despite this, Japan-based Metaplanet has reaffirmed its confidence by buying nearly 620 BTC, marking its largest Bitcoin purchase to date.
The acquisition, executed as part of its Bitcoin Treasury Operations, involved the purchase of 619.7 BTC, worth around $60.6 million, bringing Metaplanet’s total Bitcoin holdings to 1,761.98 BTC, valued at almost $168 million.
Metaplanet has leveraged multiple capital market activities to fund its Bitcoin purchases, with an increase in BTC Yield of nearly 310% between October 1 and December 23, 2024, firmly positioning itself as a key player in corporate Bitcoin investment despite bearish market sentiment.
Referred to as “Asia’s MicroStrategy,” Metaplanet began accumulating BTC in May and expects its first operating profit in seven years, attributing its success to the innovative use of Bitcoin put options, signaling a significant turnaround after years of losses.