Metaplanet Buys More Bitcoin, Reducing Average Cost as Holdings Top 43,000 BTC
Quick Look
- Metaplanet acquired 2,823 Bitcoin in Q2 at an average price of $88,300, lowering its overall acquisition cost to $106,500 per BTC.
- The company now holds 43,000 BTC and generated $10.95 million from Bitcoin income strategies.
AI-generated summary
Why It Matters
Metaplanet is aggressively accumulating Bitcoin, making it one of the largest corporate holders, while other companies like K Wave Media are scaling back their crypto exposure.
Japanese investment company Metaplanet acquired 2,823 Bitcoin during the second quarter at a price below its average purchase price, as its holdings surpassed 43,000 BTC.
The company acquired its latest trove at an average price of about 12.71 million yen ($88,300), reducing its average acquisition cost to about $106,500 per BTC from $107,700, according to a Thursday announcement.
Metaplanet now holds 43,000 Bitcoin acquired for about $4.5 billion. It also reported about $10.95 million in revenue from its Bitcoin income generation strategy in the quarter, which earns premiums by selling cash-secured options and employing other Bitcoin-related yield strategies.
The purchase extends Metaplanet's aggressive accumulation strategy, which has made the company one of the world's largest corporate Bitcoin holders. The acquisition comes days after Michael Saylor's Strategy, the world's largest corporate Bitcoin holder, skipped its usual weekly Bitcoin purchase while unveiling a new capital framework designed to support dividends and expand its cash reserves.
Metaplanet Notice of Additional Bitcoin Purchase. Source: Metaplanet
Metaplanet shares closed 3.5% higher on Thursday but remain down 48% year-to-date, underperforming Bitcoin, which has fallen 31% over the same period.
K Wave latest company to exit Bitcoin treasury strategy
While companies such as Metaplanet continue buying more Bitcoin, a handful of treasury companies are scaling back their exposure.
Nasdaq-listed South Korean company K Wave Media sold its remaining 88 BTC to repay $6 million in debt, exiting the Bitcoin treasury strategy, according to a Tuesday filing with the US Securities and Exchange Commission.
K Wave Media, FORM F-3 filing. Source: SEC.gov
The move marked a sharp reversal as the company previously announced plans to expand its holdings to 10,000 BTC after securing $1 billion in capital capacity to drive its Bitcoin treasury strategy in July 2025.
Related: Swan's Cory Klippsten sees record Bitcoin holder supply revealing early bottom
On May 28, France-based semiconductor company Sequans Communications said it would monetize its remaining Bitcoin holdings over time. The company held 658 BTC at the time, and its shares rose about 14.5% following the announcement.
Open Questions
- Will Metaplanet continue its aggressive buying strategy?
- What are the long-term implications of K Wave Media's exit?
