Japan-based Metaplanet recently hit an important benchmark by pushing its Bitcoin holdings above 1,000 BTC.
On October 28, the company announced that it had acquired 156.78 BTC with an investment of $10.4 million, increasing its total Bitcoin stash to 1,018.17 BTC (currently worth approximately $68.8 million). This acquisition brings Metaplanet's average purchase price to approximately 9,450,746 yen, or $61,629 per Bitcoin.
The company's Bitcoin accumulation coincides with its decision in May to make Bitcoin a strategic reserve asset. Since then, Metaplanet has increased its Bitcoin assets at a rapid pace, with the largest acquisition period recorded from September 30th to October 28th. During this period, Metaplanet purchased 619.338 BTC, securing its position as a major Bitcoin holder.
Metaplanet's Bitcoin investments have performed well, with over $6 million in unrealized gains amid the top cryptocurrency's recent price rally, according to data from blockchain analysis firm Arkham Intelligence.
According to crypto slate Bitcoin is up about 2% over the past day, trading at $68,377, according to the data.
Bitcoin yield
Metaplanet revealed that BTC yield soared to 155.8% from October 1st to 28th.
Last week, the Bitcoin investment firm revealed that it is adopting “BTC yield” as a key performance metric for evaluating the growth of its BTC holdings, mirroring a similar approach by MicroStrategy.
This metric tracks the percentage change in the company's Bitcoin holdings to fully diluted equity. This data is intended to give investors deeper insight into how Metaplanet's Bitcoin acquisition has impacted shareholder value.
In parallel with this Bitcoin-focused strategy, Metaplanet's stock price has been on an upward trend, rising more than 7% to 1,150 yen (about $7.50) during the trading session, according to Google Finance.
Asia's largest Bitcoin holder?
Metaplanet currently ranks as the second largest listed Bitcoin holder in Asia. The company is ahead of Hong Kong-based Meitu Inc., which holds 940.9 BTC, but falls short of regional leader Boyaa Interactive's 1,100 BTC.
Nevertheless, Metaplanet holds so much BTC that it ranks 19th among the world's top 20 Bitcoin-holding companies, according to Bitcoin US Treasury data.
Commenting on this milestone, Metaplanet CEO Simon Gerovich said:
“[Metaplanet] It currently owns over 1000 BTC, making it one of the largest Bitcoin holders in Asia. ”
Gerovich also indicated the company intends to continue accumulating Bitcoin in response to questions from crypto community members.
Update: Updated headline and content to reflect that Metaplanet is not Asia's largest Bitcoin holding company.
