Metaplanet doubles down on Bitcoin with $93M purchase
Metaplanet, the Tokyo-listed Bitcoin treasury firm, has added another 775 BTC to its reserves, spending approximately $93 million at an average price of $120,006 per coin, according to a statement by company president Simon Gerovich.
This latest purchase brings Metaplanet’s total Bitcoin holdings to 18,888 BTC, valued at $1.94 billion, with an average acquisition price of $102,653 per BTC, reports The Block.
Gerovich shared the update on X, writing simply: “18,888 BTC. Onward and upward.” The company now ranks seventh globally in corporate Bitcoin holdings.
Financials Strengthen Despite Stock Volatility
Metaplanet’s Q2 earnings show a sharp financial recovery. The company posted a net profit of ¥11.1 billion ($75.1 million) after reporting a ¥5 billion loss ($34.2 million) in the previous quarter. Revenue surged 41% quarter-over-quarter to reach ¥1.2 billion ($8.4 million).
The company maintained its full-year forecast of ¥3.4 billion in revenue and ¥2.5 billion in operating profit, supported by recurring income from cash-secured put premiums and robust operational performance.
Despite the strong report, Metaplanet’s stock fell 8.6% on Friday, closing at 866 yen, though it saw a modest 0.6% intraday recovery by midday Monday.
Focus on Recurring Bitcoin Income
President Gerovich addressed investor concerns about recent stock volatility, stating: “It’s natural to feel that way. But what gives us conviction is the foundation we are building.” He emphasized that Metaplanet’s bitcoin income generation business has grown for three straight quarters, providing the company with resilience and flexibility to service future financing for treasury expansion.
The firm’s aggressive accumulation strategy began in April 2024, aiming to mirror U.S.-based MicroStrategy’s Bitcoin treasury approach. With the latest purchase, Metaplanet has further cemented its long-term bullish stance on Bitcoin as both an asset class and a corporate treasury strategy.
Recently we wrote that Metaplanet has surged nearly 190% year-to-date, far outpacing Japan’s TOPIX Core 30 index average of 7.2% and leaving blue-chip names like Toyota, Sony, and Mitsubishi Heavy Industries behind.
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