Tokyo-based investment firm Metaplanet saw its stock rise by 8% as it boosted its Bitcoin holdings to over 1,000 BTC, valued at around $69 million. Known as “Asia’s answer to MicroStrategy,” Metaplanet is becoming a major player in corporate Bitcoin investment.

Significant October Bitcoin Purchases

Metaplanet has been on a buying spree this month, adding more than 600 BTC to its portfolio. Its most recent acquisition of 156 BTC, worth approximately $10 million, increased its total holdings to 1,108 BTC. These strategic purchases reflect the company’s commitment to long-term Bitcoin investment.

Aligning with MicroStrategy’s Approach

Following in MicroStrategy’s footsteps, Metaplanet recently adopted the “BTC Yield” metric to evaluate the impact of Bitcoin holdings on shareholder value. With this metric, the firm aims to increase transparency and measure the benefits of its growing Bitcoin portfolio for shareholders.
Read the full article on decrypt.