Japanese investment company Metaplanet has just reached a significant milestone of holding 1,018.17 bitcoins. This comes after the firm revealed its latest acquisition of 156.78 BTC for approximately $10.4 million.
MetaPlanet Acquires 156.78 BTC
Metaplanet recently completed its 11th series of stock acquisition rights, which allowed management to purchase company shares at a predetermined price. The rights issue was fully subscribed, with 13,774 shareholders exercising their rights. As a result, Metaplanet generated $65.59 million in proceeds, part of which was used to execute its latest BTC purchase.
In its public “Notice of Additional Purchase of Bitcoin,“ the company reminded the community of its commitment to accumulating BTC as a treasury reserve asset. The firm noted that the mission is being accomplished by utilizing funds from capital market activities and operational income, including the 11th series of stock acquisition rights.
The Japanese MicroStrategy uses BTC yield, a key performance indicator (KPI), to measure the success of its Bitcoin acquisition strategy. This metric calculates the percentage change in its total Bitcoin holdings per fully diluted shares outstanding over a specific period. According to the company’s latest report, its BTC yield for Q3 2024 is 41.7%.
Metaplanet Explores Different Strategies to Boost BTC Holdings
Beyond stock acquisition rights, Metaplanet is actively exploring other options to acquire Bitcoin. By diversifying its acquisition strategies, the company aims to increase its Bitcoin holdings and accrue profits for shareholders.
In August, the Japanese company took a $6.8 million loan from its major shareholder, MMXX Ventures, to purchase bitcoins. Interestingly, the loan requires no collateral, a 0.1% annual interest rate, and a six-month term. Metaplanet hopes to repay the loan in a lump sum at maturity.
Earlier this month, Metaplanet acquired 23.9 BTC worth $1.4 million through an options sale with QCP Capital, a Singapore-based digital asset trading firm. The company sold put options for 233 Bitcoins at a $62,000 strike price, expiring December 27, 2024. In exchange, QCP Capital paid Metaplanet 23.97 BTC as an insurance fee.
Meanwhile, Metaplanet’s Bitcoin acquisition strategy has caught the attention of influential figures in the crypto industry. Michael Saylor, executive chairman of MicroStrategy, publicly praised Metaplanet’s approach, encouraging other institutions to adopt Bitcoin as a treasury reserve asset.
