Hold onto your virtual wallets, because Japan's forward-thinking investment firm, Metaplanet, is diving deeper into the Bitcoin ocean! With a whopping $10 million splash, they've pushed their BTC treasure chest to over 1,000 coins. That's right, Metaplanet just snagged 156.7 new shiny Bitcoins, dropping a cool 1.6 billion yen, or around $10.4 million, to make it happen.
Announced with a sprinkle of excitement on Monday, this latest crypto haul has boosted Metaplanet's Bitcoin stash to a staggering 1,018 BTC, valued at a jaw-dropping $68.8 million. And talk about returns! From summer's end to October, their BTC investment soared with gains of 41.7% and then skyrocketed to 155.8%. It's like Bitcoin is their lucky charm!
Thanks to some clever insights from Arkham Intelligence, it’s clear Metaplanet is sitting pretty on an unrealized gain of over $6 million. Their stockholders are definitely feeling the love, with shares jumping 7.18% to 1,150 yen. Over the past month, they've seen a 16.04% lift, and for the year? A mind-blowing 618.75% surge!
CEO Simon Gerovich spilled the beans at the Bitcoin 2024 conference, sharing how Bitcoin became their financial superhero during some tough times. Back in May, when things were looking shaky, Metaplanet decided to hedge against economic turbulence, taking inspiration from MicroStrategy's bold tactics.
Their Bitcoin journey began with a modest purchase, but they quickly ramped things up. In June, they scooped up 23.351 BTC for about $1.6 million, followed by 42.4 BTC for $2.4 million, reaching a neat 203.7 BTC. They didn’t stop there, grabbing 57.273 BTC for $3.4 million, and just earlier this month, they added 106.976 BTC, worth around $6.6 million, to their vault.
To fuel this crypto adventure, Metaplanet occasionally tapped into external resources, like a 1 billion yen loan from MMXX Ventures, one of their trusty shareholders. They also got creative with 11 rounds of stock acquisition rights, the latest wrapping up on October 23. This savvy move pulled in 10 billion yen, with 13,774 enthusiastic shareholders snapping up shares at a bargain price of 555 yen each. So, what's next on Metaplanet's Bitcoin journey? Stay tuned for more crypto capers!
