Metaplanet Expands Bitcoin Portfolio to Over 630 BTC with Latest Purchase

Japanese investment firm Metaplanet declared Monday that it added another 108.78 Bitcoin to its portfolio for 1 billion yen ($6.7m).

This acquisition raises the firm’s total Bitcoin holdings to 639.5, valued at 5.96 billion yen, or about $40m.

*Metaplanet purchases additional 108.78 $BTC* pic.twitter.com/Pz2AHupm1T

— Metaplanet Inc. (@Metaplanet_JP) October 7, 2024

Bitcoin-Focused Treasury Strategy Mirrors MicroStrategy’s Approach

Metaplanet has for a while been aggressively pursuing a Bitcoin acquisition strategy. This move marks a shift in how it manages its corporate treasury. Metaplanet, also known as “Asia’s MicroStrategy,” appears to follow the bold Bitcoin investment approach championed by Michael Saylor.

The company adopted Bitcoin to counter traditional economic challenges, particularly in Japan’s negative interest rate and quantitative easing environment. Since announcing its Bitcoin strategy, the company’s stock has surged, reflecting strong investor approval of the approach.

Metaplanet Gains $1.4M in Bitcoin Premium

Last week, the firm made a similar Bitcoin purchase as the crypto market entered the fourth quarter with optimism.

Shortly after, it announced earning 23.9 Bitcoin ($1.4m) in premium income by selling 223 Bitcoin put options to Singapore’s QCP Capital. The firm stated this deal lets it benefit from Bitcoin’s volatility while keeping a fully cash-backed position.

Metaplanet recently announced a partnership with SBI VC Trade, an SBI Group subsidiary, to manage corporate custody services for digital assets like Bitcoin. This collaboration focuses on ensuring compliance and tax efficiency.

Additionally, Metaplanet has been actively raising funds through stock acquisition rights. It plans to use this capital for further Bitcoin investments or other digital asset opportunities.