Tokyo-listed Metaplanet Inc. (3350) have acquired another 775 Bitcoin
For 13.73 billion yen (about $ 94 million)according to the latest filing.
The purchase made at an average price of 17.72 million yen ($ 120,500) Per Bitcoin lifts the company’s total possessions to 18,888 BTC, worth approx. 284.1 billion yen (1.95 billion dollars). This purchase keeps them like the seventh largest Bitcoin Treasury Company.
Across all purchases, Metaplan’s average acquisition costs now stand at 15.04 million yen per year. BTC ($ 102,100).
The company reported a Bitcoin yield of 29.3% for the past period down from 129.4% in the 2nd quarter. Its multiple to net worth remains near 2, the lowest since it began its BTC accumulation.
The company has $ 117 million in outstanding debt, the gearing of the metaplan is minimal compared to its Bitcoin reserves. “Metaplanet now has $ 2.18 billion in BTC against only $ 120 million outstanding 0% ordinary bonds,” said Dylan Leclair, director of the Bitcoin strategy.
“Our 19th Series General Bonds are 18,67X over-collateralized by our BTC position and currently represents the only responsibility in our capital structure.”
Shares of Metaplanet rose 4% to close on 900 yen Monday, even when Bitcoin slid to $ 115,500, reflecting the investor’s confidence in the company’s balance strategy.
