Simon Gerovich, CEO of Metaplane, confirmed spending of $1.64 billion at an average price of $ 100,191.
Japanese company Metaplanet , the fifth largest BTC holder in the world, bought more Bitcoin today, Monday, July 14, in the midst of a bull market.
CEO Simon Gerovich said the company bought another 797 bitcoins for about $93.6 million , at an average price of about $117,451 each.
“As of today, July 14, we own 16,352 BTC bought for $1.64 billion at $100,191 per Bitcoin,” he wrote on X.
The Japan-listed investment firm has achieved a 435.9% return on its BTC since the beginning of the year.
Gerovich returned to the index they've chosen to use to assess the average return on their investment. This is the BTC Yield indicator, used to evaluate the effectiveness of their accumulation strategy, with the goal of generating value for shareholders.
Starting in December 2024, Metaplanet's primary focus has shifted to managing Bitcoin's balance sheet. The company has decided to expand its Bitcoin reserves by accessing capital market financing or using operating revenues.
Metaplanet's goal is to accumulate 210,000 BTC by 2027. Are the conditions in place?
The first company to systematically accumulate Bitcoin was Strategy, formerly MicroStrategy, led by Michael Saylor . Since then, other publicly traded companies have decided to imitate its business strategy. There are notable differences between the various accumulation strategies employed.
Metaplanet's Bitcoin reserves don't generate cash flow, so the company must resort to BTC-backed loans. As interest rates on these loans decrease over time, Metaplanet's situation improves.
Specifically, the company aims to reach a reserve of 210,000 BTC by the end of 2027. This is 13 times the current supply of BTC.
As ambitious as the goal may seem, it doesn't even reach half of the 597,325 BTC currently held by Strategy.
Seamus Rocca, CEO of Xapo Bank , shared his thoughts on the matter with Cryptonews. He reminds us that corporate Bitcoin accumulation "shouldn't be driven by a trend or the desire to build excessive exposure."
"It's crucial to remember that companies like Strategy and Metaplanet are exceptions, implementing ambitious strategies that reflect specific business objectives," he explained via email. "Most companies should opt for a more measured approach, based on a long-term strategy and influenced by short-term volatility."
Last week, Metaplanet bought another 2,205 Bitcoin . The company's holdings rose from less than 4,000 Bitcoin $BTC in March to over 15,500 in July, quadrupling its holdings in just four months.
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