Metaplanet Buys Bitcoin Again, Now Has More Than 1,000 BTC

Metaplanets buy Bitcoin again, now have more than 1,000 BTC (Photo; Doc. Crypto News)

JAKARTA - A Japanese investment company, Metaplanet, has purchased 10 million US Dollars worth of Bitcoin (BTC). Now, the Metaplanet has succeeded in increasing its total ownership to more than 1,000 BTC. This move not only shows the company's commitment to crypto assets, but also illustrates their confidence in the potential growth of Bitcoin in the future.

Metaplanets recently purchased 156.7 BTC with a value of about 1.6 billion yen (approximately IDR 157 billion), bringing their total Bitcoin reserves to 1,018 BTC. The overall value of these holdings is estimated at 68.8 million US Dollars (IDR 1.08 trillion). From the report released, the company also recorded impressive Bitcoin investment returns, with yields reaching 41.7% from July 1 to September 30, which increased rapidly to 155.8% from October 1 to 28.

According to data from Arkham Intelligence, Metaplanets have made unrealized profits of more than 6 million US Dollars (Rp. 94 billion) thanks to the recent Bitcoin price spike. The positive response from the market is also evident, with the company's shares soaring 7.18% to 1.150 yen (Rp118.346). It also reflects a 16.04% increase in the past month and a remarkable increase of 618.75% since the start of the year.

Quoted from Crypto Potato, Metaplanet CEO, Simon Gerovich, explains that the decision to invest in Bitcoin was taken at a very crucial time. Facing challenging balance sheets and significant debt, the company sees Bitcoin as a solution to stabilizing and improving its financial condition. The move was inspired by MicroStrategy's approach, which is known to be aggressive in the accumulation of Bitcoin as a measure of protection against economic uncertainty.

Since entering the Bitcoin market in May, Metaplanets have continued to increase their holdings. In the course of their investment, the company made several significant purchases. In June, they bought 23.351 BTC worth about 1.6 million US Dollars (Rp25 billion), followed by 42.4 BTC for 2.4 million US Dollars (Rp37.7 billion), bringing their total holdings to 203.7 BTC. Subsequent purchases include 57.273 BTC with a value of approximately 3.4 million US Dollars (Rp53.5 billion), as well as an addition of 106.976 BTC earlier this month, valued at about 6.6 million US Dollars (Rp103 billion).

To support this acquisition, Metaplanets sometimes use external financial sources. One of them is a loan of 1 billion yen (approximately IDR 102 billion) from MMXX Ventures, one of their shareholders. In addition, the company has also issued 11 share acquisition rights, with the most recently completed on October 23. This issuance managed to raise 10 billion yen (IDR 1 trillion), of which 13,774 shareholders bought shares at a discount price of 555 yen (IDR 57,092) per share.

The positive reaction from investors to Metaplanet's move shows that confidence in Bitcoin is still strong among market players. The surge in the company's share price reflects an increasing interest in digital assets. With more and more large institutions starting to invest in Bitcoin, as is the case with Metaplanets, this could signal that the crypto market will be increasingly accelerating.