Metaplanet's Bitcoin Bonanza: How Japan's Firm Made $581K in Just One Month!

Metaplanet's Aggressive Bitcoin Strategy

Tokyo-listed investment firm Metaplanet has made headlines by more than doubling its Bitcoin holdings this October, acquiring over 450 BTC in just one month. This aggressive acquisition strategy has resulted in a profit of approximately $581,000 from their Bitcoin investments.

On October 15, CEO Simon Gerovich announced the purchase of 106.976 BTC for 1 billion yen (around $6.7 million), averaging $62,520 per coin. This was part of a broader strategy to accumulate Bitcoin, which began on October 1 with the acquisition of 107.91 BTC for approximately $7 million. They continued this trend by buying an additional 23.97 BTC through put options on October 3.

Further purchases included 108.786 BTC on October 7 and another 108.999 BTC on October 11, each costing about $6.7 million. By mid-October, Metaplanet's total Bitcoin holdings reached 855.5 BTC, valued at over $56.1 million.

Impact on Stock and Market

The surge in Bitcoin purchases has positively affected Metaplanet's stock, which saw a 15% increase to 1,107 yen. Year-to-date, the stock has skyrocketed by approximately 500%.

As Bitcoin's price rose nearly 2% recently, reaching $65,654, Metaplanet's strategy to adopt Bitcoin as a reserve asset is proving beneficial, especially as they now hold the second-largest Bitcoin stash among Asia-listed companies, following Meitu.

Competitive Landscape

Metaplanet's approach mirrors that of MicroStrategy, which leads as the largest public holder of Bitcoin globally. As Bitcoin continues to recover from dips below $60,000, Metaplanet's proactive strategy places them at the forefront of the cryptocurrency investment wave in Japan.