🚀 Crypto Metaplanet Becomes The Second-Largest Bitcoin Corporate Holder In Asia After Buying Another $10 Million In BTC

[Undefeated_Lamba]

Japanese firm Metaplanet has acquired an additional $10 million in Bitcoin (BTC), bringing its total holdings of the flagship crypto to over $1,000 as it continues with its October BTC shopping spree.

The Tokyo-based company has purchased 156.78 BTC for approximately $10.4 million, bringing its total holdings to 1,108 ($68.8 million), it announced on Monday. The holdings were accumulated at an average price of 9.4 million Japanese yen per Bitcoin, or $61,629.

Metaplanet CEO Simon Gerovich celebrated the publicly-listed company’s latest Bitcoin milestone on X. Gerovich posited:

“Metaplanet_JP now owns more than 1000 BTC, making it one of the largest corporate holders of Bitcoin in Asia.”

When asked by an X user if the company would continue purchasing Bitcoin, the Metaplanet boss responded positively with “always and forever,” suggesting more Bitcoin purchases in the future.

Bitcoin’s price climbed 1.8% over the last 24 hours, reaching $68,751, according to CoinGecko.

Meanwhile, the new acquisition has helped bump the company’s stock prices. Shares spiked 8% on Monday and are currently changing hands at 1,150 yen, according to Google Finance data. The company’s stock price has soared 15% during the past month and an impressive 600% on a year-to-date basis.

Bitcoin As A Strategic Reserve Asset​

Dubbed “Asia’s answer to MicroStrategy,” Metaplanet is positioning itself as the “pioneer in the adoption of digital assets in Japan,” which adopted Bitcoin as a strategic reserve asset and a hedge against Japan’s debt burden in May.

It started buying BTC in April, with the first tranche of 117.7 BTC, or $7.19 million at the time. Since then, Metaplanet has increased its total Bitcoin holdings through acquisitions financed by capital market activities and operational income.

Metaplanet is now the second-largest holder among publicly-traded Asian firms after Chinese firm Boyaa Interactive International, which holds 1,100 BTC it bought earlier this year. Hong Kong-based Meitu comes after Metaplanet, with a 940.9 BTC stash worth roughly $63 million.

Last week, Metaplanet took a page from MicroStrategy’s playbook by introducing the “BTC Yield.” This is a metric that aims to provide a more transparent way of evaluating whether its Bitcoin buys enhance shareholder value. The company found that October has been a net positive for the shareholders.

While its Bitcoin holdings are a far cry from MicroStrategy’s 252,220 BTC hoard, Metaplanet is gradually rising as a top contender worldwide in corporate Bitcoin adoption.