etaplanet purchased approximately $10.4 million worth of BTC on October 28 to hold over 1,000 BTC in total. Furthermore, the average price per bitcoin the company paid to accumulate their holdings is $ 61,620 per BTC.
Investment Strategy Success
The company has reaped the benefits of making Bitcoin a reserve asset in May this year. The largest purchases were made the last 2 months, more specifically between September 30 and October 28, during which they purchased approximately 620 BTC. Moreover, Metaplanet has already secured more than $6 million in revenues for Arkham Intelligence.
Performance Tracking
The success is now measured at Metaplanet by “BTC Yield” following the same concepts as in the case of MicroStrategy. This method assists investors to get a feel of how BTC, as an asset, impacts business value. In the period between October 1 to 28, the BTC Yield of the two increased by 155.8%.
Market Impact
Following the announcement, the share price of the stock rose to 1,150 Yen, which is a 7% increase in price. The overall purchases of Metaplanet, places the company as the 19th largest Bitcoin owner by companies overtaking Hong Kong’s Meitu INC that currently hold approximately 940 BTC. Furthermore, Metaplanet,s CEO, Simon Gerovich affirmed that the company is building a long-term Bitcoin holding and is looking to accumulate even more in the future.
Metaplanet's Strategic Bitcoin Push
Metaplanet’s Bitcoin investment plan which they have done strategically has placed the firm leading the Asia Bitcoin market with encouraging financials and further plans to increase their long-term Bitcoin holdings.
