Key Takeaways
- Metaplanet’s Bitcoin Holdings Reach 20,136 BTC after a fresh 136-coin purchase worth around $15.2 million (¥2.25 billion)
- Total Bitcoin investment now exceeds $2.06 billion (¥304.56 billion), with an average purchase price of about $102,500 (¥15.13 million) per BTC
- Bitcoin Yield slowed to 30.8%, down from 129.4% in the prior quarter; Q3 gains amount to 4,112 BTC worth $477 million (¥67.4 billion)
- Fully diluted share count increased by over 64 million to 953.1 million, while bond redemptions totaled more than $115 million (¥17 billion)
Nasdaq-listed Metaplanet Inc., Japan’s largest corporate Bitcoin holder, disclosed on Monday its purchase of 136 Bitcoin , pushing the company’s reserves to 20,136 BTC.
According to the company’s filing, Metaplanet bought the latest batch at an average price of $112,100 (¥16.55 million) per coin. Altogether, the company has spent roughly $2.06 billion (¥304.56 billion) on its Bitcoin holdings, giving it an average purchase price of about $102,500 (¥15.13 million) per coin.
Bitcoin Yield Slows, Quarterly Gains Ease
In addition to treasury numbers, the filing showed performance metrics, such as Bitcoin Yield and quarterly gains.
Bitcoin Yield fell to 30.8% in the third quarter, from 129.4% in the previous three months. additionally, , quarter-to-date Bitcoin Gain slipped to 4,112 BTC, equivalent to roughly $27.8 million (¥67.4 billion), based on a reference price of ¥16.39 million per (BTC).
Share Count Jumps by Over 64 Million
The filing noted that fully diluted shares outstanding rose to 953.1 million as of September 8, up from 826.6 million at the end of June. This increase reflects heavy issuance from the company’s 20th Series of Stock Acquisition Rights, which added more than 64 million shares between July and early September.
Debt Redemptions Exceed $115 Million
Despite the dilution, Metaplanet strengthened its balance sheet, by redeeming ¥6 billion ($40.6 million) from its 19th Series of Ordinary Bonds on July 4 and followed with over ¥11 billion ($74.5 million) in additional repayments during August. According to the filing, these were funded through exercised stock acquisition rights.
Metaplanet Shares Slip Toward Two-Week Lows Despite Treasury Expansion
Metaplanet shares ended Monday at $4.62 (¥682), up 0.3% on the day but still hovering near two-week lows after a steep selloff earlier this month.
Despite the modest rebound, the stock has lost more than 20% since late August.
Technical indicators show the stock remains deeply oversold, with the relative strength index (RSI) near 20, as investors weigh the company’s rapid Bitcoin accumulation against ongoing dilution from shares issuance.
Analysts note that while Metaplanet’s Bitcoin reserves have more than doubled since June, equity holders have seen their stakes diluted by over 64 million new shares in the third quarter alone.
Read More: Strategy fights back against S&P exclusion with 1,955 Bitcoin purchase
