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Tokyo-listed Metaplanet has increased its crypto holdings to over 1,000 BTC, continuing its recent spree of Bitcoin acquisitions.
Japan‘s early-stage investment firm Metaplanet has raised its Bitcoin (BTC) holdings to over 1,000 BTC (approximately $67.8 million) following a recent purchase. The company announced on Monday, Oct. 28, in an X post that it had acquired 156.7 BTC for around 1.6 billion yen ($10.4 million), bringing its total holdings to 1,018 BTC.
The firm noted that from July 1 to Sept. 30, its yield stood at 41.7%, but it surged to 155.8% from Oct. 1 to Oct. 28. Following the latest news, Metaplanet’s shares jumped 7.46% to 1,153 yen, marking a 13.4% increase over the past month and a 578.2% rise year-to-date.
The latest purchase comes just a few days after Metaplanet adopted “BTC Yield” as a key performance indicator to assess its Bitcoin acquisition strategy, following in MicroStrategy’s footsteps. The metric measures the period-over-period percentage growth in Bitcoin holdings relative to the company’s fully diluted shares outstanding, aiming to provide transparency on its Bitcoin strategy.
Metaplanet, which embraced Bitcoin as a reserve asset earlier this year, has been increasing its crypto investments amid economic challenges in Japan, including the yen’s depreciation. The firm’s move to diversify its reserves into Bitcoin followed the Bank of Japan’s decision to raise its benchmark interest rate to 0.25% in an effort to stabilize the currency.
This article first appeared at crypto.news
