After a 9.8% drop in Bitcoin’s value over the past week, investors are showing signs of caution, worried about the potential for further declines. Despite this, Japan-based Metaplanet has reaffirmed its confidence by buying nearly 620 BTC. The acquisition, executed as part of its Bitcoin Treasury Operations, involved the purchase of 619.7 BTC, worth around $60.6 million. This latest transaction brings Metaplanet’s total Bitcoin holdings to 1,761.98 BTC, which is valued at almost $168 million.
Over the past six months, Metaplanet has leveraged multiple capital market activities, including stock rights issuances and zero-coupon bonds, to fund its Bitcoin purchases. Metaplanet raised ¥5 billion, valued at $31.9 million, through its 5th Series of Ordinary Bonds on December 20, 2024. Prior to that, the Tokyo-based investment firm also announced a separate ¥4.5 billion, valued at $28.7 million, bond issuance that is set to mature on June 16, 2025. The firm reported a staggering BTC Yield increase of nearly 310% between October 1 and December 23, 2024, demonstrating the significant growth in Bitcoin holdings relative to its fully diluted shares outstanding. Metaplanet appears to have firmly positioned itself as a key player in a corporate Bitcoin investment even as the broader market sentiment remains bearish.Metaplanet, often referred to as “Asia’s MicroStrategy,” began accumulating BTC in May, mirroring the strategy of the US-based Bitcoin-focused firm. The company recently announced that it expects its first operating profit in seven years, thanks to its decision in April to use Bitcoin as a treasury asset. For fiscal year 2024, it forecasts a revenue increase to ¥890 million, worth around $5.8 million, from ¥261 million, and predicts an operating profit of ¥270 million. This marked a significant turnaround after years of losses. A key driver has been its innovative use of Bitcoin put options, which brought in ¥520 million
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