- Metaplanet adopts “BTC Yield” to measure Bitcoin investment performance.
- BTC Yield reflects Bitcoin holdings growth compared to total shares outstanding.
Japanese investment firm Metaplanet has embraced a new performance metric called “BTC Yield” to evaluate its growing Bitcoin holdings, closely following the approach of U.S.-based firm MicroStrategy. Announced on Oct. 25, Metaplanet’s BTC Yield aims to reflect the company’s Bitcoin acquisition strategy’s potential shareholder value, offering a unique measure by calculating the period-over-period percentage change in the ratio between its Bitcoin reserves and fully diluted shares.
According to the disclosure, Metaplanet’s BTC Yield reached an impressive 116.4% in October, a notable increase from the 41.7% recorded between July 1 and Sept. 30. The Tokyo-listed firm attributes this spike to a substantial increase in Bitcoin holdings, which more than doubled during the recent quarter. This latest acquisition activity brought Metaplanet’s total Bitcoin holdings to approximately 861.39 BTC, currently valued at $59.04 million.
“BTC Yield as a KPI helps assess the performance of our Bitcoin acquisition strategy in a way we believe is accretive to shareholders,” stated Metaplanet CEO Simon Gerovich in an X post accompanying the announcement. The BTC Yield metric, initially introduced by MicroStrategy, the largest corporate holder of Bitcoin globally, offers investors insight into the potential returns on Metaplanet’s Bitcoin purchases. The company plans to release these metrics alongside each Bitcoin purchase announcement, offering transparency on the effects of Bitcoin acquisitions on shareholder returns.
Measure of Shareholder Value Growth
The firm clarified that while BTC Yield provides insight into its acquisition strategy, it does not serve as an indicator of operational performance, liquidity, or direct profitability. This limitation means BTC Yield should be interpreted strictly as a measure of shareholder value growth rather than as a conventional financial metric. Furthermore, it does not consider liabilities or reflect potential future gains for shareholders.
Dubbed “Asia’s MicroStrategy” by market observers, Metaplanet first announced its Bitcoin acquisition strategy in May 2024 to counter economic instability in Japan. The investment firm has since aggressively expanded its Bitcoin reserves, echoing MicroStrategy’s pioneering approach and aiming to bolster shareholder confidence through a consistent, transparent Bitcoin purchasing strategy.
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