Japan’s Metaplanet Buys $2.5M More in Bitcoin Despite Market Fluctuations

Key Takeaways:

  • Metaplanet's Strategic Bitcoin Investment: Metaplanet adopted Bitcoin as a treasury asset in April 2024, initially investing $6.5 million with strong backing from industry leaders like Mark Yusko and Jack Liu.
  • Stock Performance Impact: Following their Bitcoin investment announcement, Metaplanet's stock surged by 90% but later declined by 25% as Bitcoin prices fell. Despite fluctuations, the stock remains significantly higher than at the start of 2024.
  • Industry Trend: Both Metaplanet and MicroStrategy have shown a strong commitment to Bitcoin as a key part of their investment strategies, reflecting a growing trend among companies to incorporate Bitcoin into their financial plans.
Japan's Metaplanet
Japan’s Metaplanet Buys $2.5M More in Bitcoin

YEREVAN (CoinChapter.com) — Japan’s Metaplanet, an investment and consulting firm, has increased its Bitcoin holdings. On July 7, the firm announced the purchase of 42,466 bitcoins for 400 million Japanese yen ($2.5 million). This brings Metaplanet’s total Bitcoin holdings to 203,734 BTC.

Metaplanet Expands Bitcoin Holdings

Source: Metaplanet Inc.
Metaplanet Expands Bitcoin Holdings. Source: Metaplanet Inc.

Metaplanet’s $6.5M BTC Investment Backed by Industry Leader

Metaplanet adopted Bitcoin as a treasury asset in April 2024.

Metaplanet announcement. Source: Metaplanet
Metaplanet announcement. Source: Metaplanet

Their initial investment was $6.5 million. This decision was supported by notable figures like Mark Yusko, founder of Morgan Creek Capital, and Jack Liu, a founding member of Ordiswap. Companies such as Sora Ventures and UTXO Management also backed this move.

The average price Metaplanet paid for its Bitcoin holdings is around 10 million yen ($62,000) per coin. This is about 7% higher than Bitcoin’s current trading price.

Metaplanet Mirrors MicroStrategy’s Bitcoin Moves

Metaplanet’s strategy is similar to that of MicroStrategy, known for its large Bitcoin investments. MicroStrategy started buying Bitcoin in 2020 as an alternative to holding cash. By June 2024, MicroStrategy had acquired 226,331 bitcoins, costing $7.538 billion, with an average price of $35,158 per BTC.

MicroStrategy's Latest Bitcoin Purchase

Source: Michael Saylor
MicroStrategy’s Latest Bitcoin Purchase. Source: Michael Saylor

Both companies show a strong commitment to Bitcoin as part of their investment strategy.

Stock Soars Amid BTC Investment Fluctuations

Metaplanet’s Bitcoin investments have influenced its stock performance. After the announcement in April 2024, the company’s stock price surged by 90%. However, it later declined by 25% as Bitcoin’s price dropped. Metaplanet’s shares peaked at 107 yen ($0.66) on June 11 but fell as Bitcoin dropped from around $70,000 to below $60,000. Currently, the stock trades at 80 yen ($0.5), which is still 344% higher than at the start of 2024.

Japan's Metaplanet, Japan’s Metaplanet Buys $2.5M More in Bitcoin Despite Market Fluctuations
Metaplanet Stock Surge Post-Bitcoin Investment. Source: TradingView

In late June, Japan’s Metaplanet announced plans to issue 1 billion yen ($6.26 million) worth of bonds to raise more funds for Bitcoin purchases.

Metaplanet's Bitcoin Investment Announcement

Source: Metaplanet Inc.
Metaplanet’s Bitcoin Investment Announcement. Source: Metaplanet Inc.

Companies Embrace Bitcoin: Metaplanet Follows MicroStrategy’s Lead

Michael Saylor, CEO of MicroStrategy, has often raised funds through convertible notes to invest in Bitcoin. Metaplanet’s similar approach highlights a trend among companies to adopt Bitcoin as a key part of their investment strategies.


MicroStrategy's $600M Convertible Notes Offering

Source: Michael Saylor

MicroStrategy’s $600M Convertible Notes Offering. Source: Michael Saylor

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