Amid Bitcoin (BTC) trading below $100,000 per coin, Japanese investment firm MetaPlanet has executed its largest Bitcoin purchase to date, acquiring nearly 620 BTC.
Key Transaction Details
- Purchase Volume: 619.7 BTC
- Average Price: ~$96,000 per BTC
- Total Investment: $60 million
- Timing: Announced April 23 (exact acquisition date undisclosed)
This transaction quadruples MetaPlanet’s previous record of 159.7 BTC purchased in October, marking a strategic escalation in its Bitcoin accumulation strategy.
MetaPlanet’s Bitcoin Holdings Overview
- Total BTC Held: 1,762 BTC (~$168 million)
- Average Buy-In: $75,600 per BTC
- Q4 2023 Yield: 310% (up from 41.7% in Q3)
The Tokyo-based firm, often dubbed "Asia’s MicroStrategy," views Bitcoin as a core value driver for shareholders. CEO Simon Gerovich confirmed plans to expand Bitcoin-focused services, including lending and equity products, while leveraging recent capital raises.
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Funding and Strategic Pivot
- Equity Program: Launched November 2023 to raise $62 million for additional BTC purchases.
Bond Issuances:
- April 17: ¥2.87 billion ($28.7 million)
- April 20: ¥3.19 billion ($31.9 million)
- Total: ¥6.06 billion ($60.6 million) in zero-coupon bonds maturing June 2025.
Gerovich noted these funds enable accelerating 2025 BTC acquisition plans into 2024.
Financial Turnaround
- Projected Operating Profit: ¥270 million ($1.8 million) for FY2023—a reversal from ¥468 million ($3.1 million) losses in 2022.
- Revenue Streams: 52% from Bitcoin put options (¥520 million/$3.5 million), aligning with the firm’s accumulation strategy.
Market Reaction
- Stock Price: +5% post-announcement (Tokyo Exchange) despite a 13% weekly decline.
- 2024 Surge: Shares previously skyrocketed 2,100% following aggressive BTC adoption.
FAQ: MetaPlanet’s Bitcoin Strategy
Q1: Why is MetaPlanet aggressively buying Bitcoin?
A: The firm considers BTC a hedge against JPY volatility and aims to leverage its appreciating value for shareholder returns.
Q2: How does the put option strategy work?
A: MetaPlanet sells contracts allowing buyers to sell BTC at preset prices, earning premiums regardless of exercise outcomes. If exercised, MetaPlanet buys BTC at agreed rates—supporting its accumulation goals.
Q3: What risks does this model face?
A: Bitcoin price declines could pressure margins, though the firm’s long-term holding strategy mitigates short-term volatility.
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Sources: Original reporting by CryptoNews, corporate disclosures.
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