Tokyo-based investment firm Metaplanet has made its largest Bitcoin acquisition to date, purchasing nearly 620 BTC as the cryptocurrency trades below $100,000. On December 23, the firm announced the $60 million purchase of 619.7 BTC at an average price of approximately $96,000 per coin. This acquisition marks a significant milestone, nearly quadrupling Metaplanet’s previous record of 159.7 BTC purchased in October.
Often referred to as “Asia’s MicroStrategy,” Metaplanet now holds a total of 1,762 BTC, valued at roughly $168 million. The average purchase price of its holdings stands at $75,600 per Bitcoin. The firm’s Bitcoin investments have been a major contributor to its financial growth, with Metaplanet reporting a 310% BTC yield between October and December—up sharply from the 41.7% yield in the previous quarter.
Metaplanet sees its Bitcoin strategy as a key value driver for shareholders. Looking ahead, the firm plans to transform its Bitcoin operations into a dedicated business line, offering services such as loans and equity to further support its Bitcoin-focused approach.
In November, Metaplanet launched a stock acquisition program aiming to raise $62 million for further Bitcoin purchases. Following the announcement, Metaplanet’s stock rose 5% on the Tokyo Stock Exchange, though it has seen a 13% decline over the past week. However, the company’s shares have surged by over 2,100% this year, largely due to its aggressive Bitcoin acquisition strategy.
In addition to stock sales, Metaplanet raised 9.5 billion yen ($60.6 million) through two tranches of zero-interest bonds, further boosting its Bitcoin buying power. The firm issued a 5 billion yen ($31.9 million) bond on December 20, following a 4.5 billion yen ($28.7 million) bond earlier that same week. Both bonds are set to mature on June 16, 2025. CEO Simon Gerovich stated that the funds will accelerate the company’s Bitcoin acquisition plans for the 2025 fiscal year.
Metaplanet to Achieve First Operating Profit in Seven Years
Metaplanet is on track to achieve its first operating profit in seven years, following its Bitcoin adoption. The company expects to generate 890 million yen ($5.8 million) in revenue for the fiscal year ending December 31, a sharp increase from 261 million yen in the previous year. Operating profit is projected to reach 270 million yen, a dramatic recovery from the 468 million yen loss in the previous year.
A significant portion of Metaplanet’s revenue comes from its Bitcoin-related activities, including its strategy of selling Bitcoin put options. This approach generated 520 million yen in income, playing a key role in the company’s improved financial outlook. By selling Bitcoin put options, Metaplanet earns a premium for each contract sold and potentially acquires more Bitcoin at the agreed strike price if the options are exercised, further fueling its long-term Bitcoin accumulation strategy.
