Metaplanet adds 142 BTC to its holdings with $11.3m purchase

Publicly traded Japanese firm Metaplanet has expanded its Bitcoin holdings, now exceeding 1,100 BTC.

Metplanet announced on November 19 that it purchased 124,117 Bitcoin (BTC) for 1.75 billion yen (approximately $11.33 million). With the latest acquisition, the firm now holds 1,142.87 BTC, worth approximately $104.54 million at current prices.

Since turning to Bitcoin as its primary reserve asset, the company has periodically purchased the flagship cryptocurrency at an average price of 9,955,874 yen per Bitcoin.

According to the company, from July 1 to September 30, the company’s BTC return was 41.7%. However, between October 1 and November 19, the Company’s BTC Return increased to 186.9%.

Metaplanet uses BTC yield as a key performance metric to evaluate the Bitcoin purchasing strategy it adopted last month, reflecting US-based MicroStrategy, the largest institutional owner of the flagship currency.

The latest acquisition was financed by issuing 1.75 billion yen of bonds to EVO FUND on November 18, 2024. The bonds, which are part of Metaplanet’s 3rd line bond series, carry an annual interest rate of 0.36% and are fully guaranteed by the company’s president and representative. Directed by Simon Gerovich.

Hotel Royal Oak Gotanda, a property owned by Metaplanet subsidiary Wen Tokyo Inc., is due on November 17, 2025, with repayment secured through a first priority mortgage.

This move is in line with the company’s aggressive Bitcoin accumulation efforts by leveraging real estate-backed financing to expand its holdings while maintaining favorable terms. The Tokyo-listed company has been dubbed the “MicroStrategy of Asia” for its strategy of using debt instruments similar to MicroStrategy’s approach to finance large-scale Bitcoin purchases.

Metaplanet’s shares on the Tokyo Stock Exchange benefited from the company’s Bitcoin strategy and rose 5% following the announcement of Series 3 Common Bonds, according to Google Finance data. Following the Bitcoin purchase, gains increased to 14%.

Metaplanet, in particular, has been this year’s best-performing Japanese stock, up nearly 1,017% year-to-date, according to tradingview data.