Tokyo-listed Metaplanet has bought another 9.5 billion yen ($60.6 million) of Bitcoin, pushing its holdings to 1,761.98 BTC.
Metaplanet, which is publicly traded Japanese company, received 619.7 Bitcoin as part of its crypto financial strategy, paying an average of 15,330,073 yen per (BTC), with a total investment of 9.5 billion yen.
According to the company's latest financial release, Metaplanet's total Bitcoin holdings now stand at 1,761.98 BTC, with an average purchase price of 11,846,002 yen (~$75,628) per Bitcoin. The company has spent a total of 20.872 billion yen on the acquisition of Bitcoin, the document reads.
The latest purchase is the largest to date for the Tokyo-headquartered company and comes just days after Metaplanet sent out its 5th Series of Ordinary Bonds through a private placement with EVO FUND, raising 5 billion yen (approximately $32 million).
The money from this issue, as previously announced, was allocated exclusively for the purchase of Bitcoin. These bonds, due to mature in June 2025, bear no interest and allow early redemption under certain conditions.
Metaplanet buys a dip
The company also shared updates on its BTC Yield, a metric used to measure the growth of Bitcoin holdings relative to fully diluted shares. From October 1 to December 23, Metaplanet's BTC Yield increased to 309.82%, up from 41.7% in the previous quarter.
Bitcoin itself has seen strong performance this year, climbing 120% and outperforming assets such as the Nasdaq 100 and S&P 500 indexes. However, it recently pulled back from its peak ever of $108,427, trading at $97,000 after the Federal Reserve indicated just two interest rate cuts in 2025.
Despite the decline, chain criteria appear that Bitcoin is still being valued based on the Market Value to Total Value (MVRV-Z) score, which stands at 2.84 – below the 3.7 threshold that historically indicates an asset is overvalued.
