Metaplanet Acquires Nearly 620 BTC in Its Largest Bitcoin Investment
Tokyo-listed company Metaplanet has recently acquired an additional 9.5 billion yen ($60.6 million) worth of Bitcoin, bringing its total holdings to 1,761.98 BTC.
Metaplanet, a publicly traded Japanese company, implemented this purchase as part of its crypto treasury strategy, buying 619.7 Bitcoin at an average price of 15,330,073 yen per BTC. The total investment amounted to 9.5 billion yen.
According to the company’s most recent financial disclosure, Metaplanet now possesses a total of 1,761.98 BTC, with an average purchase price of 11,846,002 yen (~$75,628) per Bitcoin. The document states that the company has spent a total of 20.872 billion yen on Bitcoin acquisitions.
This latest purchase is the largest to date for the Tokyo-based company and comes shortly after Metaplanet conducted a private placement of its 5th Series of Ordinary Bonds with EVO FUND, raising 5 billion yen (approximately $32 million). As previously disclosed, the proceeds from this bond issuance were specifically designated for Bitcoin purchases. The bonds, which are set to mature in June 2025, do not accrue interest and can be redeemed early under specific conditions.
Metaplanet also provided updates on its BTC Yield, a metric used to gauge the growth of Bitcoin holdings relative to fully diluted shares. From October 1 to December 23, the company’s BTC Yield surged to 309.82%, up from 41.7% in the previous quarter.
Bitcoin itself has performed strongly this year, experiencing a 120% increase and outperforming assets such as the Nasdaq 100 and S&P 500 indices. However, it has recently experienced a pullback from its all-time high of $108,427, currently trading at $97,000 after the Federal Reserve indicated that only two interest rate cuts are expected in 2025.
Despite the retreat, on-chain metrics indicate that Bitcoin is still undervalued based on its Market Value to Realized Value (MVRV-Z) score, which currently stands at 2.84, below the historical threshold of 3.7 that typically indicates an overvalued asset.
