Stealthy moves from Metaplanet draw global attention
Tokyo-listed Metaplanet Inc. continues to fuel its treasury with Bitcoin, dropping another $6.8 million worth into its already hefty wallet. The company’s stash now swells to a staggering 855.478 BTC, valued at a cool $56 million. Since April 2024, Metaplanet has been on an aggressive acquisition spree, mirroring moves made by another well-known corporate whale—MicroStrategy.
The average price Metaplanet paid? Around $61,663 per BTC. This timing and pricing strategy have sparked chatter in the crypto corridors, with folks eyeing Metaplanet’s bold positioning. In total, they’ve poured roughly ¥7.965 billion into Bitcoin. Some say Metaplanet’s got the game plan to eventually rival the likes of Michael Saylor’s MicroStrategy, which currently holds over 252,000 BTC. But the gap’s wide for now, with Metaplanet’s latest moves showing they’re ready to swim with the big fish.
Playing the game like no other
Asia’s answer to MicroStrategy—that’s how Metaplanet likes to style itself. But their approach isn’t just about hodling. What separates them from the pack is their crafty options game. They’re not just buying Bitcoin and sitting on it. Nope. They’re selling put options on the side, playing a more complex angle to generate that sweet, extra yield.
Peter Chung, from Singapore’s Presto Labs, calls out Metaplanet’s “sophisticated” tactics. Not many players, corporate or otherwise, dare to balance bottom-fishing strategies with this kind of finesse. If BTC prices dip, they’re ready to scoop up more at a discount, using those put options to land a better deal.
So while other big names like Tesla and Block Inc. are still in the game, Metaplanet is flexing more nuanced muscles. It’s that combination of guts and guile that’s getting them noticed beyond Japan. Chung even name-dropped Nexon and Meitu as the other two Asia-based corporations dabbling with Bitcoin treasuries, but Metaplanet’s the one making waves.
Bitcoin for the win, stock market cheers
With the latest BTC buy, Metaplanet’s stock saw a swift 15% lift, trading at around 1,105 JPY or $7.42 USD. Investors seem to dig this strategy—Bitcoin’s proving to be more than just a long-term bet; it’s moving the needle on the stock price too. As more companies jump into the crypto pool, Metaplanet’s plays show just how intertwined corporate treasuries and digital assets are becoming.
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