Metaplanet, Asia's largest corporate Bitcoin holder, has expanded its cryptocurrency holdings beyond 1,000 BTC following a new purchase of 156 Bitcoin worth 1.6 billion Japanese Yen.
Japanese firm Metaplanet has acquired an additional 156 Bitcoin, bringing its total cryptocurrency holdings to over 1,000 BTC. The latest purchase was made possible by the company’s recent Stock Acquisition Rights offering, which raised 10 billion Yen.
Metaplanet’s latest Bitcoin acquisition brings its total holdings to 1,018.17 BTC, marking a major expansion since its initial entry into the cryptocurrency market in May. The company’s stock also responded positively to the announcement, climbing 6.06% to 1138 JPY during early Asian trading hours on Monday.
The purchase adds to a remarkable 4-month shopping spree by the company, which began with a 280 BTC purchase in May. Metaplanet has now acquired over 600 BTC in October alone.
This rapid expansion contributed to a 116% Bitcoin yield for October, notably higher than the 41.7% yield recorded between July 1 and September 30.
To better communicate its performance to investors, Metaplanet recently introduced a new metric called ‘BTC Yield.’ This indicator follows industry practices established by MicroStrategy, another major corporate Bitcoin holder.
The company’s Bitcoin strategy appears to be resonating with investors, as evidenced by the immediate stock price increase following the announcement of its latest purchase. The 6.06% rise suggests market confidence in Metaplanet’s cryptocurrency-focused approach.
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