- Metaplanet resumed its Bitcoin buying spree with its latest 518 BTC acquisition.
- The Japanese company now holds 18,113 BTC and is currently the sixth-largest publicly listed company in terms of Bitcoin holdings.
Metaplanet announced its latest Bitcoin (BTC) acquisition today. In its latest notice, the company publicly listed at the Tokyo Stock Exchange revealed buying 518 BTC last week at an aggregate purchase price of ¥9.086 billion (around $61.4 million) at an average purchase cost of ¥17,540,861 ($118,519) per BTC.
The latest development increased the Japanese company’s digital asset treasury to 18,113 BTC. So far, it has already invested ¥270.364 billion ($1.85 billion) in its BTC-centric strategy at a dollar cost average of ¥14.92 million ($101,911) per BTC.
Following Strategy’s (formerly MicroStrategy) scheme, Metaplanet uses the “BTC yield” key performance indicator (KPI) to assess the performance of its Bitcoin acquisition program, which is intended to be accretive to shareholders. The KPI represents the percentage change in the ratio of the company’s total Bitcoin holdings to its fully diluted shares outstanding over a given period. The latest batch of transactions elevated the business’s BTC yield to 468.1% year-to-date (YTD).
Metaplanet admitted, though, that Bitcoin KPIs have their limitations because they do not present a business’s liquidity, operational, and financial performances. Hence, people should not align them with traditional financial metrics like return on investment (ROI), cash flow, or profitability. Additionally, the company stated that they do not predict or determine its stock price.
According to Simon Gerovich, CEO of Metaplanet, their company was the first in the traditional finance (TradFi) sector to follow Strategy’s Bitcoin playbook. Meanwhile, they’re the first in Japan to hedge their treasury in BTC. Metaplanet currently has the sixth-largest Bitcoin holdings among publicly listed companies.
In another post on the X (formerly Twitter) social media platform, Gerovich highlighted that people from high-inflation nations should protect their savings from collapsing currencies and unlink themselves from capital controls through Bitcoin. He believes the premier digital currency is the most effective medium for preserving generational wealth.
The Metaplanet CEO illustrated the alarming inflation in several countries using the International Monetary Fund’s (IMF) latest report, showing the global inflation heatmap. Based on the IMF’s findings, Venezuela has the highest inflation value at 180%, followed by Sudan’s 100%, Zimbabwe’s 92.2%, South Sudan’s 65.7%, and Iran’s 43.3%. These were a far cry from the USA’s 3% rate by the time of the report.
By region, Central Asia and the Caucasus territories had the highest inflation rate at 24.9%, trailed by the Sub-Saharan African jurisdiction at 14.4% and Africa’s 13.8%. These figures far exceeded the North American region’s 3% rate.
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