Key Points
- Metaplanet Inc. has purchased an additional 124.117 BTC at ¥14.1M ($91,000) per bitcoin, bringing total holdings to 1,142.287 BTC worth ¥11.37B ($73.4M).
- Company achieved remarkable BTC Yield of 186.9% from October to November 2024, indicating significant growth in bitcoin-per-share ratio.
Latest Bitcoin Purchase Signals Growing Treasury Strategy
Metaplanet Inc. (TSE: 3350) has announced another significant bitcoin purchase, acquiring 124.117 BTC at an average price of ¥14,099,600 ($91,070) per bitcoin. This latest acquisition brings the company’s total bitcoin holdings to 1,142.287 BTC, with an aggregate cost basis of ¥11.372 billion ($73.4M) and an average purchase price of ¥9,955,874 ($64,300) per coin.
Aggressive Accumulation Strategy Shows Results
The company has demonstrated remarkable growth in its bitcoin holdings, increasing from 141.073 BTC in June 2024 to over 1,142 BTC by November 2024. This accumulation has been funded through various capital market activities, including a successful rights issue that raised ¥10.045 billion ($64.9M) with 100% participation from 13,774 shareholders.
Strategic Financing Supporting Bitcoin Acquisition
To support its bitcoin strategy, Metaplanet recently issued its 3rd Series of Ordinary Bonds worth ¥1.75 billion ($11.3M) to EVO FUND, carrying a 0.36% annual interest rate. The bonds are secured by the Hotel Royal Oak Gotanda and guaranteed by CEO Simon Gerovich, demonstrating management’s commitment to the strategy.
Performance Metrics Show Strong Growth
The company’s novel BTC Yield metric, measuring bitcoin holdings per fully diluted share, showed significant improvement, rising from 41.7% in Q3 2024 to 186.9% in the current quarter. This indicates substantial growth in bitcoin ownership per shareholder, though the company cautions this metric should not be interpreted as traditional financial yield.
