- Metaplanet buys 5,419 Bitcoin to increase its total holdings to 25,555 BTC.
- The move elevates the TSE-listed firm to the fifth spot among the world’s largest public Bitcoin treasury companies.
Metaplanet (MTPLF) has secured its position as the world’s fifth-largest public Bitcoin (BTC) treasury company. On Monday, the Tokyo Stock Exchange (TSE)-listed entity announced its acquisition of 5,419 BTC to raise its total holdings to 25,555 BTC.
According to Metaplanet CEO Simon Gerovich, the company spent $632.53 million in its recent batch of Bitcoin transactions. This translates to an average purchase price of $116,724 per BTC. Meanwhile, it invested $2.71 billion at 106,065 per BTC to build up its Bitcoin treasury.
Like Strategy’s (MSTR) playbook, Metaplanet funded its Bitcoin buying spree from the proceeds of its international shares offerings. It considers its scheme successful, owing to the 295.1% BTC yield it has achieved year-to-date (YTD).
BTC Yield, BTC Gain, and BTC ¥ Gain
As defined under its disclosure, “BTC yield” is a key performance indicator (KPI) Metaplanet adopted from Strategy’s corporate game plan. It measures the percentage change in the ratio of the business’s total Bitcoin holdings against its fully diluted shares outstanding over a given timeframe. The company utilizes the metric to assess the performance of its Bitcoin acquisition strategy, which it intends to be accretive to shareholders.
Alongside BTC yield, the firm also uses “BTC gain” to reflect the hypothetical increase in its total BTC holdings, assuming it hadn’t issued new shares. Additionally, the business employs the “BTC ¥ gain” indicator to offer shareholders a clearer picture of the financial impact of its BTC accumulation program.
Fifth-Largest Public Bitcoin Treasury Company
Metaplanet began stacking Bitcoin in April last year, buying 117.7 BTC for $7.19 million in its initial transactions. It prides itself as the first company to emulate Strategy’s Bitcoin strategic reserve to hedge its wealth against inflation and fiat volatility.
The latest development allowed Metaplanet to overtake Bullish (BLSH) crypto exchange’s 24,300 BTC portfolio in the public Bitcoin treasury company rankings, while positioning it just under Adam Back-led Bitcoin Standard Treasury Company (CEPO) 30,021 BTC stash.
On top of this category is Strategy with its 638,985 BTC haul, which the public expects to increase further following its anticipated announcement this Monday, based on the cryptic post of its executive chairman, Michael Saylor, on Sunday.
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