Metaplanet, a Tokyo-listed company known for its aggressive foray into Bitcoin (BTC), announced on Friday that it had acquired an additional 108.999 Bitcoin for 1 billion yen (US$6.5 million).
With the latest acquisition, the company's total Bitcoin holdings will be 748.502 BTC. long term bet About major cryptocurrencies. still, Metaplanet's Bitcoin acquisition strategy goes beyond simple spot purchases.
Peter Chan, head of research at Presto Labs, said the company uses a sophisticated approach of selling put options at the same time as buying Bitcoin to generate additional yield. decryption.
“Metaplanet's strategy allows us to target the bottom if the BTC price declines. This is a level of sophistication not often seen in other companies,” Chong said.
Friday's acquisition Following purchases from earlier this month, the total amount invested in Bitcoin was 6.9 billion yen (US$46.8 million). The company has currently accumulated 748.502 BTC, which is equivalent to approximately $45.2 million based on Bitcoin's value of $60,420.
“Metaplanet is now one of three Asia-based listed companies, along with Nexon and Meitu, that are buying Bitcoin for the treasury,” Chong added.
He also pointed out that the company is taking advantage of the recent appreciation of the yen against the US dollar. Metaplanet first launched bitcoin Big buy in April 2024.
The 13-year-old company's management has positioned Bitcoin investment as “the most valuable thing we can do for shareholders,” and the move has seen the company's stock price rise from an initial price of 190 yen (US$1.32) to a peak of 1,008 yen (7.01 US dollars). the US dollar). ). The company's stock price has since fallen to $6.40, according to the data.
Asia's answer to MicroStrategy
The company's Bitcoin strategy is Huge cryptocurrency holdings.
Similar to Metaplanet, MicroStrategy has adopted Bitcoin as a core asset for its finances. Metaplanet was originally branded as “Asia's answer to MicroStrategy” When we announced our Bitcoin financial strategy.
The company's Bitcoin purchase also Movement between companies will increase Incorporate crypto assets into your long-term investment plan. Notably, Tesla in 2021 USD 1.5 billion Bitcoin investmentHowever, he later sold some of his holdings for diversification.
Similarly, Square (now Block Inc.) has made Bitcoin a key part of its strategy. Invested USD 50 million in 2020 and additional USD 170 million in 2021.
Edited by Sebastian Sinclair
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