Metaplanet Buys 2,823 BTC, Holdings Exceed 43,000

Tokyo-based Metaplanet acquired 2,823 Bitcoin in the second quarter, raising its total holdings to more than 43,000 BTC. The company paid about ¥12.71 million (roughly $88,300) per coin for the recent tranche and lowered its average acquisition cost to about $106,500 from $107,700.

Metaplanet said the 43,000 BTC on its balance sheet were acquired for roughly $4.5 billion in total. The firm reported about $10.95 million in revenue for the quarter from its Bitcoin income generation strategy, which includes selling cash-secured options and other yield-producing Bitcoin activities.

Shares in Metaplanet closed 3.5% higher on the day of the announcement. The stock remains down about 48% year-to-date, compared with Bitcoin’s roughly 31% decline over the same period.

The purchase came as other large corporate holders took varied approaches. The largest corporate holder, MicroStrategy, skipped its usual weekly Bitcoin purchase and disclosed a new capital framework intended to support dividends and increase cash reserves.

Some companies have reduced exposure. Nasdaq-listed K Wave Media sold its remaining 88 BTC to repay about $6 million in debt and exit its Bitcoin treasury strategy, reversing earlier plans to expand holdings to 10,000 BTC after securing $1 billion in capital capacity. France-based Sequans Communications said on May 28 it would monetize its remaining Bitcoin holdings; the company previously held 658 BTC and its share price rose about 14.5% after that disclosure.

Corporate approaches to Bitcoin now differ: some firms pair purchases with option-selling and other yield strategies to generate premiums, while others have sold holdings to bolster cash positions or pay down liabilities.