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Japanese investment firm Metaplanet has significantly increased its Bitcoin holdings, acquiring an additional 108.78 BTC for approximately $6.92 million. This latest acquisition brings the company’s total Bitcoin reserves to 639.5 BTC, valued around $40.5 million. Known as “Asia’s MicroStrategy,” Metaplanet’s aggressive Bitcoin strategy has seen its stock soar by more than 11% on October 7, reaching an intraday high of 1,047 Japanese yen.
The Tokyo-listed company, which adopted Bitcoin as its strategic treasury reserve asset in May 2024, has witnessed a staggering 532% increase in its stock price since the beginning of the year. Metaplanet’s recent activities also include the profitable sale of 223 Bitcoin put options contracts, which further bolstered its cryptocurrency reserves by nearly 24 BTC.
CEO Simon Gerovich emphasized the strategic use of options to enhance Bitcoin holdings without financial risk, marking a sophisticated approach to asset management that leverages the volatility of cryptocurrency markets for growth. This innovative financial maneuver has clearly resonated with investors, propelling the firm’s market value and positioning it as a leader in corporate cryptocurrency investment.
