JAKARTA - Often referred to as Asia's MicroStrategy, the investment company MetaPlanet demonstrates its commitment to Bitcoin by buying BTC on a large scale.
MetaPlanet's action not only strengthens MetaPlanet's position as one of the main players in the world of digital assets in the Asian region, but also provides a new boost to Bitcoin adoption in the region.
On December 23, 2023, MetaPlanet announced that it had purchased 619.7 Bitcoins (BTC) with a value of around 60 million US dollars (Rp972 billion). This purchase was made when the price of Bitcoin was in the range of 96,000 US dollars (Rp1,555 billion) per BTC.
The transaction is listed as the company's biggest purchase since starting investing in Bitcoin in May 2023. Previously, the biggest purchase of MetaPlanet was 159.7 BTC on October 28, 2023.
According to data from Bitbo, total Bitcoin MetaPlanet ownership has now reached 1,762 BTC, with a value of around US$168 million (Rp2.721 trillion). Their average Bitcoin purchase price is US$75,600 (Rp1,224 billion) per BTC.
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With this figure, MetaPlanet is in 12th position as the largest Bitcoin holder among public companies, just behind medical technology company Semler Scientific. Not only buying Bitcoin, MetaPlanet has also started to integrate Bitcoin in their business strategy.
The company plans to make Bitcoin's accumulation and management official business lines. The move includes the issuance of loans, conversion bonds, and other financial instruments to support Bitcoin purchases and storage.
In November 2023, MetaPlanet announced plans to raise more than 62 million (Rp1,004 trillion) through its share acquisition program. The funds will be used to buy more Bitcoins.
Following this announcement, the share price of MetaPlanet on the Tokyo Stock Exchange rose 5%, although overall it was still down about 13% in a week. However, throughout 2023, MetaPlanet shares have surged more than 2,100%, hitting a high of 4,080 yen (US $26 or Rp421,200) on December 17.
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