Tokyo-listed Metaplanet continued its recent streak of Bitcoin purchases, increasing its crypto holdings to over 1,000 BTC.
Japan’s early-stage investment firm Metaplanet has increased its Bitcoin (BTC) holdings to over 1,000 BTC (approximately $67.8 million) following a recent acquisition. The company announced in post X on Monday, October 28, that it purchased 156.7 BTC for approximately 1.6 billion yen ($10.4 million), bringing its total holdings to 1,018 BTC.
The company noted that its return remained at 41.7% from July 1 to September 30, but increased to 155.8% from October 1 to October 28. Following the latest news, Metaplanet’s shares rose 7.46% to 1,153 yen. A 13.4% increase from last month and a 578.2% increase since the beginning of the year.
The latest acquisition comes just days after Metaplanet followed in MicroStrategy’s footsteps by adopting “BTC Yield” as a key performance indicator to evaluate its Bitcoin purchasing strategy. The metric measures the percentage growth in Bitcoin holdings over the period relative to the company’s fully diluted shares, aiming to provide transparency in its Bitcoin strategy.
Metaplanet, which adopted Bitcoin as a reserve asset earlier this year, is increasing its crypto investments amid economic difficulties in Japan, including a depreciation in the yen. The firm’s move to diversify its reserves into Bitcoin follows the Bank of Japan’s decision to raise its benchmark interest rate to 0.25% in a bid to stabilize the currency.