Metaplanet Surpasses 30,000 BTC Mark in Aggressive Bitcoin Purchases
Metaplanet, a Tokyo-based firm, has solidified its position as one of the world’s largest corporate holders of Bitcoin, surpassing the 30,000 BTC mark after a series of aggressive purchases. The company recently revealed that it acquired 5,268 BTC at an average price of $116,870, amounting to approximately $616 million. This acquisition came shortly after a significant purchase of 5,419 BTC in late September, marking its largest single buy to date.
With these consecutive transactions, Metaplanet’s total Bitcoin holdings now stand at 30,823 BTC, acquired at an average cost of $107,912. This significant increase in holdings reflects the company’s initial target of 10,000 BTC, which later expanded to 30,000 BTC.
As a result of its strategic acquisitions, Metaplanet now ranks above Bitcoin Standard Treasury and holds the fourth-largest corporate Bitcoin stash globally.
Revenue Growth and Forecast Revision
In addition to its aggressive treasury buildup, Metaplanet has seen substantial growth on the revenue side. The company reported that its Bitcoin Income Generation unit generated ¥2.44 billion (~$16.5 million) in revenue in Q3, representing a 115.7% increase from the previous quarter.
Buoyed by this momentum, Metaplanet’s management has doubled its full-year revenue forecast from ¥3.4 billion (~$23 million) to ¥6.8 billion (~$46 million). Operating profit projections have also been revised upward from ¥2.5 billion (~$17 million) to ¥4.7 billion (~$32 million), marking an 88% increase from prior estimates.
Metaplanet President, Simon Gerovich, expressed confidence in the company’s performance, stating, “Q3 results demonstrate operational scalability and strengthen the financial foundation for our planned Metaplanet preferred share issuance, which supports our broader Bitcoin Treasury strategy.”
Institutional Interest on the Rise
Metaplanet’s aggressive accumulation and strong financial performance have attracted the attention of global asset managers. Capital Group, a US firm managing $2.6 trillion in assets, recently became Metaplanet’s largest shareholder, surpassing National Financial Services.
Capital Group now holds 11.45% of Metaplanet shares, valued at approximately $500 million. Other top 20 investors in Metaplanet include prominent US financial institutions like Vanguard, JPMorgan, Citigroup, and State Street, among others.
These investments underscore Metaplanet’s pivotal role in Bitcoin’s corporate adoption wave, drawing significant interest from institutional investors.
In conclusion, Metaplanet’s strategic Bitcoin acquisitions, revenue growth, and institutional investor interest position the company as a key player in the evolving landscape of digital asset ownership and corporate adoption.