Japanese Investment Giant Metaplanet Announces Increased Bitcoin Holdings

Japan-based investment firm Metaplanet has increased its Bitcoin investments, raising its total assets to 1,018.17 BTC. The company, listed on the Tokyo Stock Exchange, announced on Monday that it purchased an additional 156.78 BTC (worth $10.4 million) as part of its ongoing accumulation strategy. CEO Simon Gerovich noted that this investment makes the company one of the largest institutional Bitcoin holders in Asia.

Metaplanet had announced in May its adoption of Bitcoin as a strategic treasury reserve asset. The company is aiming to strategically increase its assets through Bitcoin acquisitions financed by capital market activities and operational revenues. With this latest announcement, the company has exceeded 1,000 BTC in its holdings and aims to play a pioneering role in the adoption of crypto assets in Japan.

Positive impact on stock performance

This move by Metaplanet has had a significant impact on the company's stock. Following the announcement made before the market opened in Asia, the company's shares rose by 8%. The share price is currently trading at 1,139 JPY against the Japanese yen. Metaplanet's stock has increased by 610% since the beginning of the year. Meanwhile, the Nikkei 225 index also gained about 2% today.

Metaplanet's Bitcoin investments indicate its potential to rise as a global competitor in institutional Bitcoin adoption. Last week, the company adopted a metric known as "BTC Yield," following in the footsteps of Michael Saylor's MicroStrategy. This metric is used to assess whether Bitcoin acquisitions increase shareholder value, and it appears that October is showing an uptrend for the company. While Metaplanet's 1,018 BTC is modest compared to MicroStrategy's holding of 252,000 BTC, the company continues to play a significant role in the corporate-level adoption of crypto assets.