Metaplanet’s Stock Rises 15% Following 124 Bitcoin Purchase
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Highlights:
- Metaplanet acquired 124 BTC for ¥1.75 billion, raising its total holdings to 1,142 BTC.
- Metaplanet’s stock surged 15.1%, with a 1,334% increase year-to-date.
- Recently, MicroStrategy expanded its Bitcoin holdings with 51,780 BTC, bringing its total to 331,200 BTC.
On November 19, Japanese publicly listed firm Metaplanet announced the acquisition of 124 Bitcoins, valued at 1.75 billion Japanese Yen ($11.3 million). The purchase was made at an average price of 14,099,600 ($91,266) yen per BTC.
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Metaplanet’s stock rose 15.1% on Tuesday, closing at 2,295 yen, with a daily turnover of 21.9 billion yen ($141.7 million). Its stock has surged 1,334% year-to-date. As of November 19, 2024, the company holds 1,142.2 BTC, with a total investment of 11.372 billion yen ($104.8 million).
Metaplanet Announces ¥1.75B Bond to Boost BTC Holdings
Metaplanet has introduced a ¥1.75 billion bond to bolster its Bitcoin market position. The bond will mature in November next year, offering an annual interest rate of 0.36%. The company said the bond issuance will have minimal impact on its 2024 financial results.
*Metaplanet Issues ¥1.75 Billion in 1-year 0.36% Bonds, Proceeds to Fund Additional Purchases of $BTC* pic.twitter.com/Jv3IEylplA
— Metaplanet Inc. (@Metaplanet_JP) November 18, 2024
Based in Tokyo, Metaplanet has been increasing its Bitcoin investments since April 2024. Its first purchase was 117 BTC for $7.19 million, followed by 156 BTC for $10 million in October.CEO Simon Gerovich highlighted the milestone on X. He noted that Metaplanet ranked 29th in trading value among 4,000 listed Japanese firms, surpassing major names like Itochu and NTT.
*Metaplanet purchases additional 124.11 $BTC* pic.twitter.com/4QLVrsGTei
— Metaplanet Inc. (@Metaplanet_JP) November 19, 2024
As the company’s balance sheet strengthens, its stakeholders are seeing significant gains. Metaplanet’s Bitcoin acquisition strategist, Dylan Leclair, recognized the shift in corporate strategies, calling Bitcoin the new “stock buyback” for Wall Street.
Metaplanet uses BTC yield as a key performance metric to evaluate its Bitcoin acquisition strategy, adopted last month. This approach mirrors that of MicroStrategy, the largest corporate holder of Bitcoin in the United States.
MicroStrategy Extends Lead in Bitcoin Holdings
MicroStrategy (MSTR) continues to be the largest public corporate Bitcoin holder, with 331,200 BTC, according to BitcoinTreasuries data. MSTR saw a 13% surge in shares on Monday, hitting a record closing high after revealing it had acquired $4.6 billion in Bitcoin. The firm also plans to raise an additional $1.75 billion through convertible notes to expand its BTC holdings. With an impressive 500% rise in 2024, MicroStrategy has significantly outpaced major stocks, including Microsoft, which only gained 11% this year.
MicroStrategy Announces Proposed Private Offering of $1.75B of Convertible Senior Notes. $MSTR https://t.co/dBJMUvfjj1
— Michael Saylor⚡️ (@saylor) November 18, 2024
Bitcoin Acquisition Wave Grows as Major Players Make Moves
Alongside MicroStrategy, Marathon Digital and Semler Scientific have announced their Bitcoin purchases and future acquisition plans. Microsoft, the trillion-dollar tech giant, will also hold a shareholders’ vote in December to decide whether to add Bitcoin to its balance sheet. Meanwhile, the board members have advised voting against the move, but the stakeholders’ vote will decide the company’s next step.
More: In additional materials filed today, Microsoft's board explains why it recommends a vote against this proposal: Because it's "unnecessary" since "Microsoft’s management already carefully considers this topic."
Microsoft’s Global Treasury and Investment Services team… https://t.co/6d8iSvHuuB
— MacroScope (@MacroScope17) October 24, 2024
As of now, Bitcoin is trading 1.99% higher at $91,624, with a market cap of $1.81T. If it closes above $91,900, it could set the stage for a rally to $100K.
In a CNBC interview, one of the biggest optimists, Cathie Wood (CEO of ARK Invest), predicted BTC could hit $650,000 by 2030, with a “bull case” reaching $1.5 million. She cited two factors for BTC’s rise: regulatory relief from Trump’s administration and his pledge to fire SEC Chairman Gary Gensler. Gensler has been criticized for his anti-crypto stance and lawsuits, including the Ripple case. Wood also noted that BTC’s price rally has changed public perception, with many now viewing it as more than part of the global monetary system.
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