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Japanese investment firm Metaplanet has made its largest Bitcoin acquisition to date, purchasing 619.7 BTC worth $60 million as the cryptocurrency trades below $100,000. This marks a significant milestone in the Tokyo-based firm’s aggressive Bitcoin accumulation strategy.
Record-Breaking Purchase
On December 23, Metaplanet announced the acquisition at an average price of approximately $96,000 per Bitcoin, nearly quadrupling its previous record purchase of 159.7 BTC in October.
The company now holds a total of 1,762 BTC, valued at around $168 million, with an average acquisition price of $75,600 per BTC.
Strong BTC Yields and Expanding Operations
Between October and December, Metaplanet reported a 310% yield on its Bitcoin holdings, a significant jump from the 41.7% yield in the previous quarter.
The firm plans to expand its Bitcoin strategy into a dedicated business line, integrating:
- Loans
- Equity instruments
- Financial tools
These measures aim to strengthen its position as a leader in Bitcoin-focused investments.
Strategic Fundraising and Market Response
In November, Metaplanet initiated a $62 million stock acquisition program to further its Bitcoin purchases. The announcement led to a 5% rise in its stock on the Tokyo Stock Exchange, though shares remain down 13% over the past week.
Year-to-date, Metaplanet’s stock has surged over 2,100%, reflecting investor confidence in its Bitcoin-centric strategy.
To accelerate its plans, the company recently raised 9.5 billion yen ($60.6 million) through two bond issuances:
- 5 billion yen ($31.9 million) bond issued on Friday.
- 4.5 billion yen ($28.7 million) bond issued earlier in the week.
Both bonds are zero-interest and set to mature on June 16, 2025.
CEO Simon Gerovich stated that these funds would allow the company to expedite its 2025 Bitcoin acquisition plans into the current fiscal year.
Financial Turnaround
Metaplanet is poised to achieve its first consolidated operating profit in seven years, thanks to its Bitcoin strategy. For the fiscal year ending December 31, the company projects:
- Revenue: 890 million yen ($5.8 million), up from 261 million yen in the previous fiscal year.
- Operating Profit: 270 million yen, a stark turnaround from a 468 million yen loss last year.
Innovative Bitcoin Revenue Strategies
A significant portion of Metaplanet’s revenue comes from selling Bitcoin put options, generating 520 million yen in income.
This strategy involves:
- Earning a premium for each put option contract sold.
- Acquiring Bitcoin at pre-agreed strike prices if options are exercised, aligning with the company’s accumulation strategy.
Metaplanet: Leading the Way in Bitcoin Investment
With its record-breaking BTC purchase, innovative revenue strategies, and financial turnaround, Metaplanet solidifies its position as Asia’s MicroStrategy in the Bitcoin ecosystem.
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