Metaplanet Continues to Expand Bitcoin Holdings, Adds 780 BTC to Treasury
Metaplanet, a Tokyo-listed firm known for its aggressive approach to accumulating Bitcoin, recently announced the acquisition of an additional 780 BTC on July 28th. This brings the company’s total Bitcoin holdings to an impressive 17,132 BTC, showcasing a significant increase from the 13,350 BTC reported just a month prior.
In a filing made on Monday, Metaplanet revealed that it paid an average of 17.52 million yen (approximately $119,136) per Bitcoin, resulting in a total investment of 13.67 billion yen (around $92.93 million). Since the inception of its Bitcoin Treasury Operations in December 2024, the company has steadily been accumulating Bitcoin using proceeds from capital market activities and operating income.
The latest purchase comes amidst a surge in trading volume for Metaplanet’s stock on the Tokyo Stock Exchange. In June, trading volume reached 1.86 trillion yen (approximately $12.65 billion), nearly doubling the 997.6 billion yen (about $6.78 billion) recorded in May. This spike in trading activity reflects growing investor interest as the company continues to focus on its digital asset strategy.
Over the past three months, Metaplanet has seen a significant increase in its Bitcoin holdings, adding over 13,000 BTC. This expansion has been funded through various rounds of share issuances and bond redemptions. The company redeemed a total of 12.75 billion yen ($86.7 million) from its 19th series of bonds on July 4th and July 14th, using funds raised through the exercise of stock acquisition rights.
To evaluate the impact of its capital strategy on shareholders, Metaplanet tracks metrics such as BTC Yield, BTC Gain, and BTC ¥ Gain. These metrics aim to measure the growth of Bitcoin relative to the company’s expanding share base. The company has emphasized that these metrics are not substitutes for traditional financial indicators like cash flow or net income, but they provide valuable insights into the success of its Bitcoin accumulation strategy.
Despite the impressive growth in Bitcoin holdings, Metaplanet has not declared any dividends, and it’s important for shareholders to understand that owning the company’s stock does not equate to direct ownership of the underlying Bitcoin. The company has also cautioned that its custom KPIs may overstate gains if taken outside the broader financial context.
Metaplanet’s proactive approach to accumulating Bitcoin sets it apart in the Japanese market, where few listed companies have embraced digital assets on such a significant scale. The company’s continued focus on expanding its Bitcoin holdings demonstrates its commitment to leveraging cryptocurrencies as part of its long-term investment strategy.