Metaplanet has further expanded its Bitcoin holdings, working towards its goal of accumulating 210,000 BTC by 2027.
Summary
- On August 4, Metaplanet acquired 463 BTC, bringing its total assets to 17,595 BTC.
- The year-to-date BTC Yield is at 170%, with the Bitcoin per share increasing 22 times over the last 11 months.
- Recent fundraising efforts, bond redemptions, and ambitious growth plans indicate a continued accumulation of BTC.
Metaplanet has bought an additional 463 Bitcoin (BTC) for ¥7.995 billion ($55.17 million) at an average price of ¥17.27 million ($119,163) each, as reported on Aug. 4. This acquisition raises the company’s total Bitcoin assets to 17,595 BTC, valued at ¥261.28 billion ($1.80 billion).
This latest acquisition contributes to a year-to-date BTC Yield of 170%, with a quarter-to-date yield of 24.6%. BTC Yield is the primary metric used by Metaplanet to assess shareholder growth, indicating Bitcoin per fully diluted share over time. As of Aug. 4, the company’s Bitcoin per fully diluted share has climbed to 0.0201 from 0.00088 a year earlier.
Metaplanet has swiftly expanded through equity issuance and debt financing. Since June 30, the company has secured over 4,200 BTC, mainly through exercising stock acquisition rights. The bond redemptions in July, totaling ¥12.75 billion ($88.99 million), were also funded this way.
Strategic Bitcoin Vision Backed by Capital Increases
On Aug. 2, Metaplanet revealed a preferred share offering worth ¥3.73 billion ($25.74 million) with a 6% annual dividend to support ongoing BTC purchases. The company aims for 30,000 BTC by year-end and 100,000 BTC by 2026, with a long-term target of reaching 210,000 BTC by 2027.
CEO Simon Gerovich views Bitcoin as a protection against yen depreciation and issues surrounding sovereign debt. Metaplanet also intends to acquire a digital banking institution to yield returns from its Bitcoin reserves.
The company’s stock has surged by 179% year-to-date and 1,391% over the past year, driven by investor excitement for its strategic Bitcoin approach. In Q1 FY2025, Metaplanet reported record revenues of ¥877 million ($6.05 million) and an operating profit of ¥593 million ($4.09 million).
