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Yesterday, the Japanese company Metaplanet announced the purchase of another 162 BTC with 2.008 billion yen (13.5 million dollars)
The 162 BTC were purchased at an average price of 12,393,669 yen, equivalent to approximately $83,300.
Now the company claims to have 3,050 Bitcoin in its portfolio, purchased at an average price of 12,607,094 yen ($84,800) by investing a total of 38.452 billion yen (about 260 million dollars).
Metaplanet and the Bitcoin (BTC) accumulation strategy
Metaplanet is a Japanese company listed on the stock exchange since 2005.
Until the birth of Bitcoin in 2009, its price did nothing but plummet, and although in 2013 it recorded a promising rebound, its trend on the stock market remained decidedly very difficult until 2023.
Although it is still far from the highs, including the peak of 2013, in 2024 there was a turning point, and it is precisely due to the start of its Bitcoin purchasing campaign.
Metaplanet started buying BTC in April of last year, when it already purchased almost 100 at a price below $70,000.
At the time, the price of its shares on the stock market was just over 200 yen.
By mid-2024, it had already surpassed 200 BTC, and the price of its shares had jumped above 1,000 yen.
The bulk of Metaplanet’s Bitcoin purchases occurred in three successive phases, one in October, when it purchased more than 600, one in December, when it purchased another 600, and one in February, still ongoing, during which it has purchased more than 1,200.
The boom on the Stock Exchange of Metaplanet shares thanks to Bitcoin (BTC)
Thus, starting from October 2024, the stock market price of Metaplanet shares began to skyrocket.
In November, it exceeded 2,000 yen, and in December it even reached 4,000.
The maximum peak of this period was 7,210 yen on February 13, before a strong correction triggered, bringing it to the current 3,630.
The current price is 1,700% higher than that of a year ago, even though it is enormously lower than the peak of 67,000 yen reached in 2013.
However, before that peak, the price of Metaplanet shares was around 4,500 yen, and when that speculative bubble deflated, it fell even below 3,000.
Therefore, thanks to its purchases of BTC, Metaplanet has at least managed to recover on the stock market the price level of 2014, just after the burst of the 2013 bubble.
Instead, from 2016 to 2023, there was a continuous decline that brought the price from about 4,000 yen to less than 200.
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“`Metaplanet is technically a Japanese hotel company, which in theory has nothing to do with the crypto sector.
However, given the stock market crash of the last ten years, it has decided to become a company primarily based on its own investments in Bitcoin.
Suffice it to say that on its official website, metaplanet.jp, it describes itself as “the first and only Bitcoin Treasury Company listed on the stock exchange in Japan”.
By now on their official website there is no longer any trace of its hotel activity.
This shift, which occurred last year, has borne fruit for now, and it is an attempt to replicate in Japan the experiment of Strategy (ex Microstrategy).
Despite this, his investment in Bitcoin is currently slightly at a loss, as it was made at an average cost of $84,800 while the market value of Bitcoin at the moment is around $82,000.
Just as it applies to Strategy, however, it is not an investment with a short-term horizon or with speculative intents, so the financial markets are primarily interested in long-term prospects and opportunities.
In fact, when the price of Bitcoin started to fall in the second half of February, the price of Metaplanet shares dropped from 6,000 to 5,000 yen, then collapsed below 4,000 yen at the end of the month, but always remained well above the 2,500 of November. In fact, 3,500 yen is precisely the level around which the price oscillated for more than a month between December and January.
English (US) ·