Tokyo-listed Metaplanet has made a significant move in the crypto space by purchasing 619.7 Bitcoin as part of its crypto treasury strategy. The company paid an average of 15,330,073 yen per Bitcoin, with a total investment of 9.5 billion yen ($60.6 million).
According to its latest financial disclosure, Metaplanet’s total Bitcoin holdings now amount to 1,761.98 BTC, with an average purchase price of 11,846,002 yen (~$75,628) per Bitcoin. In total, it has spent 20.872 billion yen on Bitcoin acquisitions.
This latest purchase is the largest yet for the Tokyo-headquartered company. It came just days after Metaplanet issued its 5th Series of Ordinary Bonds via private placement with EVO FUND, raising 5 billion yen (approximately $32 million). The proceeds from this issuance were specifically allocated for buying Bitcoin. These bonds, set to mature in June 2025, carry no interest and allow for early redemption under specific conditions.
Metaplanet also provided updates on its BTC Yield, which measures the growth of Bitcoin holdings relative to fully diluted shares. From Oct. 1 to Dec. 23, the BTC Yield surged to 309.82%, up from 41.7% in the previous quarter.
Bitcoin has had a strong performance this year, climbing 120% and outperforming assets like the Nasdaq 100 and S&P 500 indices. However, it has recently pulled back from its all-time high of $108,427 and is currently trading at $97,000 after the Federal Reserve indicated only two interest rate cuts in 2025. Despite the retreat, on-chain metrics suggest that Bitcoin is still undervalued based on its Market Value to Realized Value (MVRV-Z) score, which stands at 2.84 — below the threshold of 3.7 that historically signals an asset is overvalued.
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