Key Points
- Metaplanet has aggressively expanded its Bitcoin holdings to 1,018 BTC (worth approximately ¥9.62 billion/$63.8 million), with its latest purchase of 156.78 BTC at an average price of ¥10.2 million/$67,600 per Bitcoin.
- The company completed a highly successful rights issue that saw 100% participation from shareholders, raising ¥10.045 billion/$66.6 million from 13,774 shareholders to fuel its Bitcoin accumulation strategy.
Rapid Bitcoin Accumulation Drives Corporate Treasury Strategy
Japanese listed company Metaplanet Inc. (TSE: 3350) has significantly accelerated its Bitcoin acquisition strategy, announcing today that its total Bitcoin holdings have surpassed the 1,000 BTC milestone. The company’s latest purchase of 156.783 BTC at an average price of ¥10.2 million/$67,600 per Bitcoin brings its total holdings to 1,018.17 BTC, acquired at an average purchase price of ¥9.45 million/$62,700 per Bitcoin.
Strong Shareholder Support Through Rights Issue
In a demonstration of strong shareholder confidence, Metaplanet successfully concluded its 11th Series of Stock Acquisition Rights on October 22, with 100% exercise participation from 13,774 shareholders. The rights issue, priced at ¥555/$3.68 per share, raised ¥10.045 billion/$66.6 million, providing substantial capital for the company’s Bitcoin accumulation strategy.
Performance Metrics Show Significant Growth
Metaplanet has introduced a unique metric called “BTC Yield” to measure the effectiveness of its Bitcoin acquisition strategy. The company reported an impressive BTC Yield of 155.8% from October 1 to October 28, 2024, following a 41.7% yield in the previous quarter. This metric reflects the change in Bitcoin holdings per fully diluted share, indicating significant value creation for shareholders through the company’s Bitcoin strategy.
The rapid expansion of Metaplanet’s Bitcoin treasury positions it among the most aggressive corporate Bitcoin adopters in Japan. The company has demonstrated remarkable execution of its strategy, increasing its Bitcoin holdings from 141.073 BTC in June 2024 to over 1,018 BTC by October 2024, while maintaining transparent reporting of its acquisition costs and average purchase prices.
The company’s financing activities have included strategic debt raises, including a ¥1 billion/$6.6 million bond issuance and a ¥1 billion/$6.6 million loan, both of which have been fully repaid as of October 2024, demonstrating prudent financial management alongside its ambitious Bitcoin acquisition strategy.
(Note: USD conversions based on approximate exchange rate of ¥151 = $1)
