- Metaplanet’s Bitcoin assets have accumulated $28 million in gains.
- The firm posted a remarkable 155% BTC yield for Q3 2024.
The Japanese investment firm, Metaplanet, known as Asia’s MicroStrategy, recorded a surge in its Bitcoin holdings, increasing by $28 million this year. This resulted in doubling the firm’s market valuation. Despite the surge, Metaplanet’s stock has witnessed a brief decline.
The mid-2024 noted the beginning of the focused acquisition efforts of Metaplanet, and their strategy has been widely discussed in the market. Since September, the company has increased its Bitcoin stash considerably. According to the third-quarter financial report, the holdings have risen from 492.82 BTC to 1,018.17 BTC by mid-November.
Notably, the rise in Bitcoin’s value has significantly contributed to Metaplanet’s market valuation, which currently exceeds $64 million in Bitcoin investments. This solidifies Metaplanet’s position as one of Asia’s largest corporate Bitcoin holders.
Regardless of the rewarding Bitcoin strategy of Metaplanet, the firm has encountered difficulties on the financial side. The firm has reported a loss of $2.1 million for the first nine months of this year. This loss can be marked as a development over the $2.7 million loss registered during the same period in 2023.
In addition to its revenue growth, Metaplanet raised more than $26.7 million this year through bond offerings and stock issuances. This additional capital has supported the company’s ongoing investments in both Bitcoin and its other business ventures.
On the other side, Metaplanet has initiated a Key Performance Indicator (KPI) called “BTC Yield” for transparency over its acquisition. The BTC Yield tracks the shift in Bitcoin holdings per fully diluted share. The BTC Yield has reached 155% in recent quarters.
Bitcoin’s Price Momentum
The increase in Bitcoin holdings comes as the crypto market experiences a major rally. Bitcoin (BTC) has surged by over 138% over the year. The asset saw considerable fluctuations due to the US presidential election. The largest asset has recently hit its record high at $89K.
At press time, the asset is trading at $87,714 with its market cap settled at $1.74 trillion. Besides, the daily trading volume has steadily declined by over 34% to $103 billion. If the upside trajectory continues, the asset might hit new highs as analysts predict.
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