Metaplanet Loads Up 1,111 Bitcoin Last Week For $118.2M

• Metaplanet loaded up 1,111 Bitcoin last week for $118.2 million, increasing its total holdings to 11,111 BTC.

Metaplanet’s 1,111 Bitcoin Top-up

Metaplanet disclosed that it added 1,111 Bitcoin (BTC) in its treasury last week. The purchase amounted to $118.2 million at an average cost of $106,408 per BTC.

The acquisition came despite the rocky sentiment across the cryptocurrency market since last week as investors braced themselves for the US Federal Reserve’s announcement on interest rates and the repercussions of the USA’s involvement in the Middle East tension.

With its latest top-up, Metaplanet now owns 11,111 BTC worth $1.07 billion. The numbers translate to an average of $95,869 per BTC, increasing the BTC yield of the Japanese firm to 306.7% year-to-date (YTD).

ADVERTISEMENTThe company funded its Bitcoin accumulation with its series of stock acquisition rights and convertible bond issuances, mirroring the scheme of Strategy (Microstrategy). EVO Fund, a Cayman-based investment firm, emerged as the top subscriber of its securities offerings.

The recent developments have elevated Metaplanet to the eighth position among the top publicly traded entities in terms of Bitcoin holdings. It has already overtaken Hut 8 Mining’s 10,273 BTC hoard and is close to Tesla’s 11,509 BTC haul.

The move also aligns with Metaplanet’s “Path to 210,000 BTC” plan, wherein it targets to buy out 30,000 BTC in the present fiscal year, 100,000 BTC by 2026, and 210,000 BTC by 2027.

ADVERTISEMENT## Unrealized Gains of Metaplanet from Bitcoin Holdings

At Bitcoin’s fluctuations between a $98,286.21 low and a $102,852.99 high in the last 24 hours, Metaplanet’s unrealized gains from its Bitcoin holdings now sit between $1.092 billion and $1.143 billion, reflecting a 2.06% to 6.82% increase in its investment.

Analysts expect Bitcoin to continue its wild fluctuations today following the Iranian parliament’s approval for the blockade of the Strait of Hormuz, a vital channel accommodating a fifth of the world’s oil shipment. On the bright side, the negative news could be cushioned by the unrelenting Bitcoin accumulation and adoption by major institutions and governments.

On Sunday, Michael Saylor, Executive Chair of Strategy, made another cryptic post hinting at the next Bitcoin purchase announcement of their company this Monday. He posted on X an update of the Saylor/Microstrategy Portfolio Tracker with the caption, “Nothing Stops This Orange.”

In this context, the “orange” Saylor refers to is the Bitcoin purchases plotted on the chart. Hence, his message is clear: there’s another one coming up, which would add to its already ginormous 592,100 BTC treasury.

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