Metaplanet surpasses 4K Bitcoin following stock split
Metaplanet, the Tokyo-headquartered Bitcoin corporate treasury firm, has purchased an additional 696 BTC, following a stock split, bringing its total Bitcoin holding to 4,046 BTC.
$341 million in Bitcoin
The company publicized details of its latest Bitcoin purchase on X on April 1. It outlined that funding of this purchase was enabled through the allocation of cash held by the firm as a consequence of the sale of put options.
The average purchase price of the 696 BTC was 14,586,230 yen ($97,694). The average price the firm has paid per Bitcoin in relation to its entire holding of the leading digital asset is 12,943,181 yen ($86,689). Its overall Bitcoin holding has a total value of approximately $341 million.
Taking to X, the firm’s CEO, Simon Gerovich, said that Metaplanet’s Bitcoin Income Generation business achieved 770 million yen ($5.2 million) in Q1 revenue, while year-to-date its Bitcoin yield has reached 95.6%.
Stock split & bond issuance
This purchase follows both a stock split and the issuance of bonds worth 2 billion yen ($13.3 million). On March 31, Metaplanet filed a disclosure outlining details of the bond issuance. The company issued the zero interest bonds via its Evo Fund. Buyers will be permitted to redeem the newly issued bonds at face value by Sept. 30.
In an X post, Gerovich suggested that the bond issuance was being implemented in order to facilitate the company “buying the dip,” taking advantage of a downturn in the Bitcoin unit price over recent weeks.
In a notice filed on Feb. 18, Metaplanet outlined details of its 10-to-1 stock split. The company described how it executed a reverse 10-to-1 stock split last August. This has created a problem for investors as in the interim, the stock price has increased significantly. Consequently, the share price is unwieldy, placing a substantial financial burden on investors.
On that basis, the latest stock split will enable greater investor accessibility and improved liquidity. Arising from that, Metaplanet expects that it will gain a broader investor base.
On March 30, Gerovich reported that Metaplanet stock is now a component within Betashares’ Crypto Innovators ETF. Betashares is an Australian asset manager with over $50 billion in assets under management.
The Metaplanet CEO suggested that the development pointed towards “growing interest from institutional investors,” while expressing his satisfaction with Australians now having access to Metaplanet’s Bitcoin First Strategy via the Australian Securities Exchange (ASX).
The ‘Asian MicroStrategy’
Metaplanet is being regarded by many industry commentators as the “Asian MicroStrategy,” referring to the American Bitcoin treasury firm that recently rebranded to Strategy, having pioneered a particular approach to building a position in Bitcoin within a corporate treasury.
Metaplanet appears to have adopted the same Bitcoin playbook. In an appearance on the Coin Stories Podcast recently, Metaplanet’s Gerovich said that he encourages his friends to put “100% of their net worth into Bitcoin.”
Last month, the company confirmed that it was pursuing a strategy to accumulate 10,000 Bitcoin in 2025 and 21,000 Bitcoin by 2026. The firm is now ranked ninth in the world as a corporate Bitcoin holder. Within Asia, it is the leading corporate holder of the world's largest digital asset.
