As a seasoned researcher who has witnessed the rise and fall of various investment trends, I must admit that Metaplanet’s recent moves in the crypto market have piqued my interest. The firm’s strategic approach to Bitcoin acquisition, coupled with their innovative use of the “BTC Yield” metric, seems to be a bold yet calculated move in the current economic climate of Japan.
Metroplanet, a company listed on the Tokyo stock exchange, has expanded its cryptocurrency portfolio by acquiring more than 1,000 Bitcoins, marking another step in its ongoing series of Bitcoin purchasing activities.
Japan-based investment firm Metaplanet has increased its ownership of Bitcoin (BTC) to more than 1,000 BTC (approximately $67.8 million) after a recent purchase. On October 28th, the company announced via a blog post that it had bought approximately 156.7 BTC for around 1.6 billion yen ($10.4 million), adding to its existing holdings and bringing its total Bitcoin stash to 1,018 BTC.
*Metaplanet purchases additional 156.78 $BTC*
— Metaplanet Inc. (@Metaplanet_JP) October 28, 2024
From July 1 to September 30, Metaplanet’s yield was at 41.7%. However, it significantly increased to 155.8% from October 1 to October 28. After the recent news broke, Metaplanet’s shares rose by 7.46%, reaching 1,153 yen. This represents a 13.4% increase over the past month and a staggering 578.2% growth for the year so far.
Recently, Metaplanet made a new acquisition, which occurred not long after they decided to use “BTC Yield” as a main benchmark for evaluating their Bitcoin procurement approach, similar to MicroStrategy’s method. This metric calculates the percentage increase in Bitcoin holdings over time compared to the total number of shares that could potentially be issued by the company, with the goal of offering clarity on their Bitcoin investment strategy.
Metaplanet, a company that adopted Bitcoin as a reserve asset earlier this year, has been boosting its cryptocurrency investments due to economic difficulties in Japan, such as the weakening yen. This strategic shift towards Bitcoin came after the Bank of Japan raised their key interest rate to 0.25%, aiming to strengthen the Japanese currency.
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2024-10-28 09:58