Metaplanet has been steadily accumulating Bitcoin this October, increasing its total Bitcoin holdings to 855.5 BTC, valued at over $56.1 million. The company recently disclosed that it spent nearly 1 billion yen (around $6.7 million) to acquire 106.976 BTC at an average price of $62,520 per coin—about 5.8% lower than the market price at the time of the announcement ($66,200). This move marks a significant step in Metaplanet’s long-term growth, with its stock price having risen by a total of 480% since the company first announced its Bitcoin investment strategy in April 2024.
Metaplanet isn’t just buying Bitcoin; the company is following a “DCA” (Dollar-Cost Averaging) strategy, similar to that of MicroStrategy, led by Michael Saylor. Through continuous purchasing, Metaplanet has conducted four major Bitcoin acquisitions in October alone, including 106.976 BTC on October 11 and 108.8 BTC on October 7. In total, the company has spent 4 billion yen this month to acquire more than 430 Bitcoin.
Simon Gerovich, CEO of Metaplanet, admitted that the company’s investment strategy was inspired by MicroStrategy. They have also utilized financial tools, such as borrowing 1 billion yen from a shareholder in August to bolster their Bitcoin reserves. As a result, Metaplanet is now the 23rd largest public company in terms of Bitcoin holdings. With this recent purchase, they have surpassed Bitfarm, entering the top 20 companies globally with the largest Bitcoin holdings.
Metaplanet has successfully navigated cryptocurrency market volatility, overcoming a heavy loss when Bitcoin dropped by 14% on September 10. Currently, the company has recovered with a modest profit of around 2%, as Bitcoin’s price has risen to approximately $65,500. Thanks to its DCA strategy, Metaplanet has managed to avoid “buying at the top” and now has strong growth potential if Bitcoin’s price continues to rise.
Since the beginning of 2024, Metaplanet’s stock price on the Tokyo Stock Exchange has soared nearly 600%. At one point, the company’s stock had skyrocketed by 1,875% compared to the beginning of the year, fueled by significant investor interest in its aggressive Bitcoin investment strategy.
With 855.478 BTC currently held, Metaplanet not only solidifies its position among the largest public Bitcoin holders but also demonstrates that a DCA strategy can prove successful during market recoveries. This reinforces Metaplanet’s growing reputation as the “MicroStrategy of Asia,” committed to a long-term Bitcoin investment approach despite short-term market fluctuations.
Related news: Metaplanet Announces 1 Billion Yen Bond Sale to Buy Bitcoin
