Metaplanet Expands Bitcoin Treasury With Additional 775 BTC Purchase

• Metaplanet boosts bitcoin treasury with 775 BTC worth $93M.
• Strong Q2 earnings drive confidence as holdings reach 18,888 BTC.
• Stock dips despite profits, but recurring income fuels resilience.

Metaplanet has reinforced its bitcoin strategy after purchasing an extra 775 BTC worth about $93 million. According to Simon Gerovich, president of the Japanese bitcoin treasury firm, the company acquired the bitcoins at an average price of $120,006 each.

This transaction raised Metaplanet’s total bitcoin holdings to 18,888 BTC, with a combined cost of $1.94 billion. The company’s overall average purchase price now stands at $102,653 per bitcoin. Gerovich highlighted the milestone on X, stating, “18,888 BTC. Onward and upward.”

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Rising Holdings Amid Strong Earnings

The company launched its bitcoin accumulation plan in April 2024 and now ranks seventh globally for total holdings, according to Bitcointreasuries data. Combined with this accumulation, Metaplanet has also posted good financial results in the second quarter.

Period revenue rose to 1.2 billion yen ($8.4 million) or a 41 percent quarter-on-quarter increase. The net income moved into a profit of 11.1 billion yen ($75.1 million) against a loss of 5 billion yen ($34.2 million) in the first quarter.

Also, the company restated its full-year outlook of 3.4 billion yen in revenue and 2.5 billion yen in operating profit. It attributed its outlook to recurring cash-secured-put premiums and performance.

Market Response and Ongoing Strategy

Despite these results, Metaplanet’s stock fell 8.6 percent to 866 yen on Friday in Japan, based on Yahoo Finance data. However, the share price was able to inch up 0.6 percent midday on Monday when the market was still open.

Gerovich accepted investors’ concerns following the pullback but emphasized the company’s strong foundation. He added that Metaplanet’s bitcoin income generation company has grown in the last three consecutive quarters.

According to Gerovich, this recurring income adds resilience to the firm’s balance sheet and supports further bitcoin accumulation. He also pointed out that it provides flexibility to service future financing requirements, enhancing treasury operations.

Metaplanet’s latest acquisition underlines its commitment to bitcoin as a central part of its treasury strategy. With growing earnings, recurring income streams, and an expanding digital asset base, the company continues to pursue an aggressive accumulation plan despite short-term fluctuations in its stock performance.

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