- Metaplanet, the Japanese investment firm that’s one of the most aggressive buyer of Bitcoin in recent months, has added to its holdings with a fresh 619.70 BTC purchase.
- The company’s latest Bitcoin purchase comes amid a new dip for the crypto market, with the benchmark asset dropping to lows of $93,800 early Monday.
Metaplanet adds $60 million worth of BTC to holdings
Bitcoin rose to its all-time high of $108k on Dec. 17 before plummeting to around $92k on Dec. 20 amid broader risk assets sell-off. The downturn, which followed the recent US Federal Reserve’s rate cut and projection for 2025, however, looks to have provided another “buy the dip” opportunity for Metaplanet.
Metaplanet says it acquired nearly 620 BTC at the average price of 15,330,073 yen (about $97,861) per bitcoin. Overall, the purchase totaled 9.5 billion yen ($60 million), with total BTC bought to date at 1,761.98 BTC acquired at the average price of 11,846,002 yen (about $75.5k) per Bitcoin.
In total, Metaplanet has so far used more than 20.872 billion yen to buy BTC, having completed its first Bitcoin buy in May.
The move saw the company dubbed “Asia’s MicroStrategy” in reference to US-listed company MicroStrategy, which is the world’s largest corporate holder of Bitcoin.
Michael Saylor’s company first adopted BTC as a treasury asset in August 2020 and currently holds 439,000 BTC, acquired for approximately $27.1 billion. This translates to an average purchase price of about $61,725 per bitcoin.
According to a disclosure on Monday, Metaplanet has seen its BTC Yield between Oct. 1 and Dec. 23 reach 310%. In comparison, the company reported a 41.7% BTC yield between July and September 2024.
“As previously disclosed, BTC Yield is a key performance indicator (KPI) that reflects the percentage change in the ratio of Total Bitcoin Holdings to Fully Diluted Shares Outstanding over a given period. The Company uses BTC Yield to assess the performance of its Bitcoin acquisition strategy, which is intended to be accretive to shareholders,” Metaplanet stated.
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